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Which of the following is not an arithmetic operator?
Terms: 3/20, Net 30
Payment terms indicating a 3% discount if paid within 20 days, otherwise net amount is due within 30 days.
June 1 Dating
A term used in trade credit to indicate that the payment is due on June 1 for purchases made now.
Lockbox System
A service provided by banks to companies for the receipt of payment from customers, involving collecting and processing checks received at a special post office box.
Electronic Transfer
The digital exchange of money between accounts, which can occur within the same financial institution or across different institutions.
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