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,
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