2/10 n/60 means 226154-What does 2/10 n/60 mean
Sep 28, 19 · What Does 2/10 Net 30 Mean?2/10 net 60 means there is a 2% discount available if the invoice is paid within 10 days (that's the 2/10) If the invoice is not paid within the discount period, the entire invoice is due in 60A $1,078 b $935 c $1,100 d $ The expression 3/, n/60 means a Invoice is paid in 3 to days otherwise interest for 60 days will be charged b a 3% discount is available if the invoice is paid within to 60 days
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What does 2/10 n/60 mean
What does 2/10 n/60 mean-Sep 26, 17 · So when you put together N/10 EOM, it means you have to pay the invoice in full 10 days after the end of the month Determine if there is any discount attached to the term If there is a discount attached, before the n/10 EOM there will be a number, then a slash and another number For example, say the terms on an invoice read 2/10, n/10 EOM(c) n/eom?' and find homework help for other Business questions at eNotes We've discounted annual subscriptions by 50% for
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Credit Terms Of 2/10, N/60 Mean Multiple Choice If The Invoice Is Paid Within 10 Days Of Its Question Credit Terms Of 2/10, N/60 Mean Multiple Choice If The Invoice Is Paid Within 10 Days Of Its Date, A 2% Discount May Be Taken;Jul 28, 17 · 2/10 Net 30 Just like 1/10 Net 30, with terms of 2/10, n/30, the "2" represents 2%, the "10" represents 10 days, and the "30" represents 30 days This means that the customer can take an early payment discount of 2% of the amount owed if payment is made within 10 days2/10 net 30 is a term that means buyers are eligible to receive a 2% discount on trade credit if the amount due is paid within 10 days After the first 10 days, the full invoice amount is due in 30 days without the 2% discount according to the terms for 2/10 net 30
If MetroPulse Media receives an invoice for purchases dated 10/21/X5 subject to credit terms of "3/10, net 30 EOM,I understand that 2/10 n/60 is when if it is paid in 60 days they recieve a 2% discount help Source(s) 10 eom https//trim/zpSCM 0 0 Saeed 6 years ago n/10 EOM It simply means that the net amount is due till the 10 days of theMay 16, 16 · 2/10 net 30 Is a 2% discount offered by the supplier if the buyer pays within 10 days, and full payment is required if payment is made after 10 days and full payment is required within 30 days So, if you buy $100 worth of parts from a supplier, you have to pay them at the latest, $100 30 days after you receive the goods
Jun 15, 15 · What does 2/10 n/30 mean?Definition End of month, often abbreviated EOM, is an attribute used in many business credit terms to describe the due date and time payment is required Many suppliers and vendors give manufacturers and retailers a cash discount for paying invoices early and in cash Example Invoices are typically marked with a discount period, the net amount due, and some additional informationFor example, given that a service normally costs $95, and you have a discount coupon for $ off, this would mean subtracting $ from $95 to get the final price $95 $ = $75 In this example, you are saving the fixed amount of $ The above examples are two of the most common discount methods There are numerous others that can be more
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The term 2/10n/30 implies that _ % discount will be given if the payment is made within _ days or full amount is receivable within 30 days?What does it mean when terms are 1/10, n/30, 2/10, n/60, 1/10, n/45, etc?Let's say a vendor gives two clients $3,000 worth of goods on net 60 terms with a 2% discount if they repay within 15 days (ie, 2/15 n/60) The vendor tacks on a 6% interest fee each day a customer's payment is late Customer A takes advantage of the early payment discount, sending in a $2,940 check the following week
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2/10 stands for = if payment is made with in 10 days from date of purchase 2% discount is given n/60 stands for = total credit period given is 60 days, which means that the buyer can make payment till 60 days but if payment is made after 10th day no discount can be claimed n/60 simply tell that after 60 days the invoice will become due forGet an answer for 'What is the meaning of (a) 1/15, n/60;May 15, 17 · To expand upon the last example, if the customer must pay within 10 days to obtain a 2% discount, or can make a normal payment in 30 days, then the terms are stated as "2/10 net 30" The table below shows some of the more common credit terms, explains what they mean, and also notes the effective interest rate being offered to customers with
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2/10, n/30 If the vendor's invoice has terms of 2/10, n/30, the "2" represents 2%, the "10" represents 10 days, the "n" represents the word net and the "30" represents 30 days This means that the buyer can take an early payment discount of 2% of the amount owed if the amount is remitted within 10 days instead of the customary 30 daysFor example, credit terms of "2/10, n/60" mean that full payment is due within a 60day credit period, but the buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date READ ME Free on Board (FOB) The price for goods includes delivery at the seller's expense to a specified point and no furtherMar 14, 08 · what do these terms meaning when dealing with accounting;
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May 28, 19 · In some cases, you may see notations like "1/10 net 30" or "2/10 net 60," which means that a percentage discount is given if the bill isSep 26, 17 · First, ensure that you are within the time period for the discount by adding the number of days to the date on the invoice For an invoice dated Nov 30 with the terms as 2/10, net 30, payment by Dec 10 qualifies for the discount In this case the discount is 2 percent, so multiply the total bill by 098, to determine the amount of payment2/10/EOM, n/60 —means a buyer who pays by the 10th of the month following the month of purchase may deduct a 2 per cent discount from the invoice price If payment is not made within the discount period, the entire invoice price is due 60 days from the invoice date
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Credit terms of "2/10, n/60" means the company will receive a 2 percent discount if paid within 10 days December 15, the buyer pays the invoice in full Complete the buyer's journal entry for payment by selecting the account names from the dropdown menus and entering the dollar amounts in the debit or credit columnsA 2 and 3 b 1 and 2Jan 15, 21 · Alcorn Industries completes these transactions during July of the current year (the terms of all its credit sales are 2/10, n/30) July 1 Purchased $6,300 of merchandise on credit from Tahoe Company, invoice dated June 30, terms 2/10, n/30 3 Issued
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2/10, n/30 says "two ten, net thirty", and it means that the buyer can take a 2% cash discount on the gross amount of the invoice if they pay within 10 days from the invoice date If buyers miss the discount period, the net amount without a discount is due between day 11 and day 30Dec 03, 19 · Terms 2/10 n/30 2% discount for settlement in 10 days, net 30 meaning the full amount is due within 30 days Terms 1/10, n/30 1% discount for settlement in 10 days, net 30 meaning the full amount is due within 30 days Terms 5/10, 2/30, n/60 5% for settlement within 10 days, 2% for settlement in 1130 days, full amount due within 60 daysSep 04, 09 · 2/10,EOM mean the customer will get discount 2% from seller if pay end the month in month that customer bought Example Jan 1 15 A purchase Equipment 0$ on account from B Jan or 30 B pay invoice to A B get discount 2% of 0 2/10,n/30 eom mean the customer will get discount 2% from seller if pay from 1 to 10 of the next month that customer bought
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I believe the answer is C $ the terms 2/10, 1/30, n/60 indicates that you would get 2% discount if you pay within 10 days and 1% discount if you pay within 30 days If you pay on the 8th day, the amount of your payment would be $ 450 x 98% = $ 441The sales invoice includes the terms 2/10, n/30?Explanation of The Mechanism Of Cash Discount (a) 2/10, 1/30, n/60 (b) Net 30 (a) 2/10,1/30,n/60 2/10 means 2% of the net price may be deducted if the invoice is paid within 10 days of the date of the invoice
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The amout is $4725, with a return credit of $175?May 07, 17 · Thus, terms of "1/10" mean that a discount of 1% can be taken if payment is made within 10 days Net terms "Net" means that the full amount is due for payment Thus, terms of "net " mean that full payment is due in days The term may be abbreviated to "n" instead of "net" End of month terms The abbreviation "EOM" means that the payer3/10, n60 implies 1 a 3% discount if paid in 60 days 2 a 3% discount if paid in 10 day 3 payment must be made by the 60th day?
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Answered by a verified Tutor We use cookies to give you the best possible experience on our website By continuing to use this site you consent to the use of cookies on your device as described in our cookie policy unless you have disabled themJun 03, · 2/10/EOM, n/60—means a buyer who pays by the 10th of the month following the month of purchase may deduct a 2% discount from the invoice price If payment is not made within the discount period, the entire invoice price is due 60 days from the invoice date Click to see full answer Similarly, what does N 10 EOM mean?Apr 23, 10 · What is the meaning of (a)2/10, n/60;
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Otherwise The Total Amount Is Due In 60 Days Only That Payment In Full Is Due 60 Days After Date Of The InvoiceVariations on this method include 2/10 net 40, 2/10 net 45, 2/10 net 60, 2/10 n 30 EOM (end of month), and more These terms may also be referred to in a variety of terms 2/10 n 45, 2/10 n 60, 2/10 days net 30, 2 percent 10 net 30 days The 2/10 net 30 discount makes no statement on the payment of bills beyond 30 days2/10 or 1/10 n/30 are discounts that offer an incentive for a customer to pay for purchases in a timely manner A company offering terms of 2/10 is offering a discount of 2% provided that the invoice is paid within 10 days
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• 2/10/EOM, n/60 —means a buyer who pays by the 10th of the month following the month of purchase may deduct a 2% discount from the invoice price If payment is not made within the discount period, the entire invoice price is due 60 days from the invoice dateApr 07, · Explanation of 2/10, n/30 credit terms The term 2/10, n/30 is a typical credit term and means the following "2" shows the discount percentage offered by the seller "10" indicates the number of days (from the invoice date) within which the buyer should pay the invoice in order to receive the discount2/10 n/60 means that if you pay within 10 days you can deduct 2 percent from the invoice 1/30 n/60 means that if you pay within 30 days you can deduct 1 percent from the invoice Otherwise you have to pay the full invoice amount in 60 days 450 *02 = $9
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The 1%/10 net 30 calculation is a way of providing cash discounts on purchases, which means that if the bill is paid within 10 days, there is a 1% discount2/10 Net 30 refers to the trade credit Trade Credit A trade credit is an agreement or understanding between agents engaged in business with each other that allows the exchange of goods and services offered to a customer for the sale of goods Cost of Goods Sold (COGS) Cost of Goods Sold (COGS) measures the "direct cost" incurred in theIf your objective is to optimize your investment in your business, an annual discount rate higher than your weighted average cost of capital means it is a good opportunity since the discount ends up being more profitable than investing in another sector of the business On the other hand, a lower discount annual rate shows that it is better to invest elsewhere in the company, in sectors that
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'Net 60' (also 'n/60') This means the invoice amount is payable in full within 60 days from invoice date (or after delivery of goods) It makes no statement on bill payment beyond 60 days — so the vendor may or may not have a latepayment penalty for the customer*Response times vary by subject and question complexity Median response time is 34 minutes and may be longer for new subjects Conduct research to determine managements responsibility for establishing and maintaining an adequate system of Accounting Information Systems Entries for trade of fixedJan 16, 08 · an invoice for has terms 2/10,1/30,n/60 if you pay on the eigth day houch much will u remit?
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May 15, · Explanation of 2/10, n/30 credit terms The term 2/10, n/30 is a typical credit term and means the following "2" shows the discount percentage offered by the seller "10" indicates the number of days (from the invoice date) within which the buyer should pay the invoice in order to receive the discountCredit Terms Businesses who purchase or sell products on credit will likely see credit or
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