Firm grants credit with terms

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Reference no: EM131197874

If a firm grants credit with terms of 3/10, net 30, the customer:

must pay a penalty for 10% when payment is made in more than 3 days after the sale.

must pay a penalty of 3% when payment is made in more than 10 days after the sale.

receives a discount of 10% when payment is made in less than 3 days after the sale.

receives a discount of 3% when payment is made in less than 10 days after the sale.

Reference no: EM131197874

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