On July 1, a company receives an invoice of 800 with the terms 1/10 and net 30. (2024)

`); let searchUrl = `/search/`; history.forEach((elem) => { prevsearch.find('#prevsearch-options').append(`

${elem}

`); }); } $('#search-pretype-options').empty(); $('#search-pretype-options').append(prevsearch); let prevbooks = $(false); [ {title:"Recently Opened Textbooks", books:previous_books}, {title:"Recommended Textbooks", books:recommended_books} ].forEach((book_segment) => { if (Array.isArray(book_segment.books) && book_segment.books.length>0 && nsegments<2) { nsegments+=1; prevbooks = $(`

  • ${book_segment.title}
  • `); let searchUrl = "/books/xxx/"; book_segment.books.forEach((elem) => { prevbooks.find('#prevbooks-options'+nsegments.toString()).append(`

    ${elem.title} ${ordinal(elem.edition)} ${elem.author}

    `); }); } $('#search-pretype-options').append(prevbooks); }); } function anon_pretype() { let prebooks = null; try { prebooks = JSON.parse(localStorage.getItem('PRETYPE_BOOKS_ANON')); }catch(e) {} if ('previous_books' in prebooks && 'recommended_books' in prebooks) { previous_books = prebooks.previous_books; recommended_books = prebooks.recommended_books; if (typeof PREVBOOKS !== 'undefined' && Array.isArray(PREVBOOKS)) { new_prevbooks = PREVBOOKS; previous_books.forEach(elem => { for (let i = 0; i < new_prevbooks.length; i++) { if (elem.id == new_prevbooks[i].id) { return; } } new_prevbooks.push(elem); }); new_prevbooks = new_prevbooks.slice(0,3); previous_books = new_prevbooks; } if (typeof RECBOOKS !== 'undefined' && Array.isArray(RECBOOKS)) { new_recbooks = RECBOOKS; for (let j = 0; j < new_recbooks.length; j++) { new_recbooks[j].viewed_at = new Date(); } let insert = true; for (let i=0; i < recommended_books.length; i++){ for (let j = 0; j < new_recbooks.length; j++) { if (recommended_books[i].id == new_recbooks[j].id) { insert = false; } } if (insert){ new_recbooks.push(recommended_books[i]); } } new_recbooks.sort((a,b)=>{ adate = new Date(2000, 0, 1); bdate = new Date(2000, 0, 1); if ('viewed_at' in a) {adate = new Date(a.viewed_at);} if ('viewed_at' in b) {bdate = new Date(b.viewed_at);} // 100000000: instead of just erasing the suggestions from previous week, // we just move them to the back of the queue acurweek = ((new Date()).getDate()-adate.getDate()>7)?0:100000000; bcurweek = ((new Date()).getDate()-bdate.getDate()>7)?0:100000000; aviews = 0; bviews = 0; if ('views' in a) {aviews = acurweek+a.views;} if ('views' in b) {bviews = bcurweek+b.views;} return bviews - aviews; }); new_recbooks = new_recbooks.slice(0,3); recommended_books = new_recbooks; } localStorage.setItem('PRETYPE_BOOKS_ANON', JSON.stringify({ previous_books: previous_books, recommended_books: recommended_books })); build_popup(); } } var whiletyping_search_object = null; var whiletyping_search = { books: [], curriculum: [], topics: [] } var single_whiletyping_ajax_promise = null; var whiletyping_database_initial_burst = 0; //number of consecutive calls, after 3 we start the 1 per 5 min calls function get_whiletyping_database() { //gets the database from the server. // 1. by validating against a local database value we confirm that the framework is working and // reduce the ammount of continuous calls produced by errors to 1 per 5 minutes. return localforage.getItem('whiletyping_last_attempt').then(function(value) { if ( value==null || (new Date()) - (new Date(value)) > 1000*60*5 || (whiletyping_database_initial_burst < 3) ) { localforage.setItem('whiletyping_last_attempt', (new Date()).getTime()); // 2. Make an ajax call to the server and get the search database. let databaseUrl = `/search/whiletype_database/`; let resp = single_whiletyping_ajax_promise; if (resp === null) { whiletyping_database_initial_burst = whiletyping_database_initial_burst + 1; single_whiletyping_ajax_promise = resp = new Promise((resolve, reject) => { $.ajax({ url: databaseUrl, type: 'POST', data:{csrfmiddlewaretoken: "uBTI0w2db0etj5FZTsX5ydclc9wDJoRaVuHwP2sVX2I06D0DrTHuzfEdP3yuCRRQ"}, success: function (data) { // 3. verify that the elements of the database exist and are arrays if ( ('books' in data) && ('curriculum' in data) && ('topics' in data) && Array.isArray(data.books) && Array.isArray(data.curriculum) && Array.isArray(data.topics)) { localforage.setItem('whiletyping_last_success', (new Date()).getTime()); localforage.setItem('whiletyping_database', data); resolve(data); } }, error: function (error) { console.log(error); resolve(null); }, complete: function (data) { single_whiletyping_ajax_promise = null; } }) }); } return resp; } return Promise.resolve(null); }).catch(function(err) { console.log(err); return Promise.resolve(null); }); } function get_whiletyping_search_object() { // gets the fuse objects that will be in charge of the search if (whiletyping_search_object){ return Promise.resolve(whiletyping_search_object); } database_promise = localforage.getItem('whiletyping_database').then(function(database) { return localforage.getItem('whiletyping_last_success').then(function(last_success) { if (database==null || (new Date()) - (new Date(last_success)) > 1000*60*60*24*30 || (new Date('2023-04-25T00:00:00')) - (new Date(last_success)) > 0) { // New database update return get_whiletyping_database().then(function(new_database) { if (new_database) { database = new_database; } return database; }); } else { return Promise.resolve(database); } }); }); return database_promise.then(function(database) { if (database) { const options = { isCaseSensitive: false, includeScore: true, shouldSort: true, // includeMatches: false, // findAllMatches: false, // minMatchCharLength: 1, // location: 0, threshold: 0.2, // distance: 100, // useExtendedSearch: false, ignoreLocation: true, // ignoreFieldNorm: false, // fieldNormWeight: 1, keys: [ "title" ] }; let curriculum_index={}; let topics_index={}; database.curriculum.forEach(c => curriculum_index[c.id]=c); database.topics.forEach(t => topics_index[t.id]=t); for (j=0; j

    Solutions
  • Textbooks
  • `); } function build_solutions() { if (Array.isArray(solution_search_result)) { const viewAllHTML = userSubscribed ? `View All` : ''; var solutions_section = $(`
  • Solutions ${viewAllHTML}
  • `); let questionUrl = "/questions/xxx/"; let askUrl = "/ask/question/xxx/"; solution_search_result.forEach((elem) => { let url = ('course' in elem)?askUrl:questionUrl; let solution_type = ('course' in elem)?'ask':'question'; let subtitle = ('course' in elem)?(elem.course??""):(elem.book ?? "")+"    "+(elem.chapter?"Chapter "+elem.chapter:""); solutions_section.find('#whiletyping-solutions').append(` ${elem.text} ${subtitle} `); }); $('#search-solution-options').empty(); if (Array.isArray(solution_search_result) && solution_search_result.length>0){ $('#search-solution-options').append(solutions_section); } MathJax.typesetPromise([document.getElementById('search-solution-options')]); } } function build_textbooks() { $('#search-pretype-options').empty(); $('#search-pretype-options').append($('#search-solution-options').html()); if (Array.isArray(textbook_search_result)) { var books_section = $(`
  • Textbooks View All
  • `); let searchUrl = "/books/xxx/"; textbook_search_result.forEach((elem) => { books_section.find('#whiletyping-books').append(` ${elem.title} ${ordinal(elem.edition)} ${elem.author} `); }); } if (Array.isArray(textbook_search_result) && textbook_search_result.length>0){ $('#search-pretype-options').append(books_section); } } function build_popup(first_time = false) { if ($('#search-text').val()=='') { build_pretype(); } else { solution_and_textbook_search(); } } var search_text_out = true; var search_popup_out = true; const is_login = false; const user_hash = null; function pretype_setup() { $('#search-text').focusin(function() { $('#search-popup').addClass('show'); resize_popup(); search_text_out = false; }); $( window ).resize(function() { resize_popup(); }); $('#search-text').focusout(() => { search_text_out = true; if (search_text_out && search_popup_out) { $('#search-popup').removeClass('show'); } }); $('#search-popup').mouseenter(() => { search_popup_out = false; }); $('#search-popup').mouseleave(() => { search_popup_out = true; if (search_text_out && search_popup_out) { $('#search-popup').removeClass('show'); } }); $('#search-text').on("keyup", delay(() => { build_popup(); }, 200)); build_popup(true); let prevbookUrl = `/search/pretype_books/`; let prebooks = null; try { prebooks = JSON.parse(localStorage.getItem('PRETYPE_BOOKS_'+(is_login?user_hash:'ANON'))); }catch(e) {} if (prebooks && 'previous_books' in prebooks && 'recommended_books' in prebooks) { if (is_login) { previous_books = prebooks.previous_books; recommended_books = prebooks.recommended_books; if (prebooks.time && new Date().getTime()-prebooks.time<1000*60*60*6) { build_popup(); return; } } else { anon_pretype(); return; } } $.ajax({ url: prevbookUrl, method: 'POST', data:{csrfmiddlewaretoken: "uBTI0w2db0etj5FZTsX5ydclc9wDJoRaVuHwP2sVX2I06D0DrTHuzfEdP3yuCRRQ"}, success: function(response){ previous_books = response.previous_books; recommended_books = response.recommended_books; if (is_login) { localStorage.setItem('PRETYPE_BOOKS_'+user_hash, JSON.stringify({ previous_books: previous_books, recommended_books: recommended_books, time: new Date().getTime() })); } build_popup(); }, error: function(response){ console.log(response); } }); } $( document ).ready(pretype_setup); $( document ).ready(function(){ $('#search-popup').on('click', '.search-view-item', function(e) { e.preventDefault(); let autoCompleteSearchViewUrl = `/search/autocomplete_search_view/`; let objectUrl = $(this).attr('href'); let selectedId = $(this).data('objid'); let searchResults = []; $("#whiletyping-solutions").find("a").each(function() { let is_selected = selectedId === $(this).data('objid'); searchResults.push({ objectId: $(this).data('objid'), contentType: $(this).data('contenttype'), category: $(this).data('category'), selected: is_selected }); }); $("#whiletyping-books").find("a").each(function() { let is_selected = selectedId === $(this).data('objid'); searchResults.push({ objectId: $(this).data('objid'), contentType: $(this).data('contenttype'), category: $(this).data('category'), selected: is_selected }); }); $.ajax({ url: autoCompleteSearchViewUrl, method: 'POST', data:{ csrfmiddlewaretoken: "uBTI0w2db0etj5FZTsX5ydclc9wDJoRaVuHwP2sVX2I06D0DrTHuzfEdP3yuCRRQ", query: $('#search-text').val(), searchObjects: JSON.stringify(searchResults) }, dataType: 'json', complete: function(data){ window.location.href = objectUrl; } }); }); });
    On July 1, a company receives an invoice of 800 with the terms 1/10 and net 30. (2024)

    FAQs

    On July 1, a company receives an invoice of 800 with the terms 1/10 and net 30.? ›

    The invoice terms 1/10, net 30 mean that if the company pays within 10 days (by July 10), they get a 1% discount. If the company pays on July 15, the discount period would be over, so the full amount of $800 is payable. Therefore, the correct answer is $800.

    What is an invoice for $800 with terms 1/10 net 30? ›

    Invoice 800 with Terms 1/10 Net 30 is a commercial term representing a business transaction in which an invoice of $800 must be paid for within 10 days, or the entire amount must be paid within 30 days.

    What does 1 10 net 30 mean a 1% discount will be given if the invoice is paid within? ›

    This is the early payment discount portion of the term, “1/10 net 30”. This means that if the buyer pays the invoice within 10 days of receiving it, they will receive a 1% discount.

    What does 1 10 net 30 mean? ›

    A 1%/10 net 30 deal is when a 1% discount is offered for services or products as long as they are paid within 10 days of a 30-day payment agreement. The cost of credit is used as a percentage and occurs when the buyer does not take the reduced cost, thus paying the higher cost, reflecting the discount loss.

    What does it mean when an invoice has credit terms of 2 10 N 30? ›

    What is 2/10 net 30? 2/10 net 30 is a trade credit extended to the buyer from the seller. A buyer will receive a 2% discount on the net amount if they pay the invoice in full within the first ten days of the invoice date. Otherwise, the full invoice amount is due in 30 days without a discount.

    What is the effective interest rate of 1 10 net 30? ›

    Answer and Explanation:

    Applying the formula, the effective annual cost of not taking the credit is = 1%/(1 - 1%)*365/(30 - 10) = 18.43%.

    How do you say net 30 on an invoice? ›

    This would be marked in invoice terms as '2/10 net 30. ' The first number signifies the percent discount, the second number signifies the time period for payment when the discount is available, and the 'net 30' signifies the overall deadline for payment.

    How do you calculate sales discount 1 10 N 30? ›

    If credit sales are made for $1,000 and the payment terms are 1/10, n/30, It means that if the customer pays within ten days, he can get a discount of 1% on $1,000 and has to pay only $990 for the purchases. And if the customer doesn't pay within 10 days, he can pay within 30 days but with no discount.

    What does cash discount terms are specified on the invoice 2 10 N 30 mean? ›

    Cash discounts: shorthand

    In accounting, usually the discount amount and the time period within which it's available, are expressed in a format such as 2/10, n/30. This means a 2% discount is applied if the invoice is paid within ten days, otherwise the payment is due in its entirety within 30 days.

    When making a sale that offers terms such as 2 10 n 30 to the customer? ›

    2/10 Net 30 refers to the trade credit offered to a customer for the sale of goods or services. 2/10 net 30 means that if the amount due is paid within 10 days, the customer will enjoy a 2% discount. Otherwise, the amount is due in full within 30 days.

    What does the 1% mean in a 1% 10 net 30 payment term? ›

    How Do 1/10 Net 30 Payment Terms Work? An invoice may indicate that a buyer will provide a net 30 payment period to the customer, but in order to encourage even quicker payment, they will offer a discount of 1% off the total cost if the customer pays within 10 days. This would be written as '1/10 net 30'.

    What is a sale on account for $1000 offered with terms 2 10? ›

    Question: A sale on account for $1,000 offered with terms 2/10, n/30 means that the customers will get a $2 discount if payment is made within 10 days; otherwise, full payment is due within 30 days.

    What does 1% 10 net 60 mean? ›

    2/10 net 60 and 1/10 net 60 mean the customer must pay the invoice within 10 days to receive a 2% or 1% discount, respectively, or pay the full invoice amount within 60 days. Payment terms offered by a vendor are shown on a customer's purchase order (PO) and invoice.

    What is 1/10 net 30 of $800? ›

    An invoice for 800 with terms 1/10 net 30 is a business transaction that requires payment of 800 with a 1/10 discount if the payment is made within 10 days of the invoice date. After 10 days, the full amount of 800 is due within 30 days of the invoice date.

    What does credit terms of 1 10 N 30 mean quizlet? ›

    It means that the customer may avail of the discount if payment is made within the discount period, otherwise, the deadline for payment is on the 30th day from the day of the invoice.

    What is 30 terms payment? ›

    Net 30 payment terms on an invoice means the customer has 30 days to pay the full balance of the invoice. Invoices contain the date of sale, goods or services purchased, payment terms and conditions, etc. The payment terms refer to the conditions under which a buyer has to pay-off the full value of the invoice.

    How do you calculate invoicing? ›

    Invoice Calculation Formula
    1. Total Goods and Services. Sum up the cost of all items and services.
    2. Subtract Discounts. Deduct any discounts you've applied.
    3. Add Taxes. Include the appropriate tax amount.
    4. Include Shipping. Don't forget to add the shipping fees if needed.

    What is the cash discount terms of 2 10 net 60 on an invoice? ›

    With 2/10 net 60, the vendor offers a 2% discount if an invoice is paid within 10 days. If the customer doesn't take the early payment discount, the total amount of the invoice balance is due in 60 days.

    How do you write payment terms on an invoice? ›

    Simply put, your invoice payment terms should include anything that the customer should be aware of in regards to the payment. This might include cash discounts for early payment, other trade discounts, deposit information and late fees.

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