A Sale on Account for $1,000 Offered with Terms 2/10,n/30

question 25

True/False

A sale on account for $1,000 offered with terms 2/10,n/30 means that the customers will get a $2 discount if payment is made within 10 days; otherwise,full payment is due within 30 days.

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Definitions:

Invalid Tender

An offer to pay that does not meet the legal requirements.

Exact Amount

A specific, precise sum of money or measurement of quantity, with no deviation allowed.

Legal Tender

Currency that is officially recognized by a governmental authority as acceptable payment for debts.

Legal Tender

Currency that must be accepted if offered in payment of a debt, as decreed by a country's government.