1/15 net 30 date of invoice translates as: A) A 1% cash discount may be taken if

Question

1/15 net 30 date of invoice translates as:
A) A 1% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date.
B) A 1% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the end of the month.
C) A 1% discount may be taken on 15% of the purchase if the account is paid within 30 days after the end of the month.
D) A 1% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due in 30 days after the middle of the month

Explanation / Answer

Wrong Answer.

Correct Answer is A.A 1% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date.

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