Accountants Help Me

[aswedc]

On December 28, 1989, Black purchased and received goods for $153,061, terms 2/10, n/30.

What does "2/10, n/30" mean?

 

[Sluggo]

Deduct 2% if paid by the 10th of the month, net due on the 30th

 

[akouocoop]

If it's a business, it's usually 10 and 30 from date of invoice, not days of the month.

 

[aswedc]

k thanks.