1/15 net 30 date of invoice translates as. a 1 percent discount may be taken on

Question

1/15 net 30 date of invoice translates as. a 1 percent discount may be taken on 15 percent of the purchase if the account is paid within 30 days after the end of the month a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due in 30 days after the middle of the month a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the end of the month

Explanation / Answer

The correct answer is option B.

a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date.

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