Q. Cash Discount term 3/15, net 40 means (Solved)
1. 3% Discount if payment in 15 days, otherwise full payment in 40 days,
2. 15% Discount if payment in 3 days, otherwise full payment 40 days,
3. 3% Interest if payment made in 40 days and 15%,interest thereafter,
4. None of the above.
- a. 3% Discount if payment in 15 days, otherwise full payment in 40 days,