If a firm's credit terms are 2/10 net 30 days, then customers settling their bills within 30 days of the beginning of the billing cycle will receive a 2 percent discount from the total invoice price.
Answer the following statement true (T) or false (F)
False
If a firm's credit terms are 2/10 net 30 days, then customers settling their bills by Day 10 of the billing cycle will get a 2 percent discount from the total invoice price; otherwise, the total invoice price is due by Day 30. See 15-4: Credit Management
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