Question

Zahir Antiques purchases merchandise having an invoice price of $12,900. The terms of sale are 3/15, n/30. What is the cash discount if the bill is paid by the 15th day?

I have no idea how to do this:(

Answer 1

3/15, n/60 means a buyer will receive a 3% cash discount if paid within 15 days of the invoice date, and the buyer has a maximum of 60 days to pay the entire debt amount, so it looks like they get the 3% discount
So what do you think you should do?