Asked by Paula Mendez on Mar 10, 2024



When the book salesperson told the bookstore manager, "3/15 net 60," the manager knew that he was receiving a ________ discount.

A) trade
B) cash
C) noncumulative quantity
D) consumer
E) cumulative quantity

3/15 Net 60

A term of payment indicating that a buyer can deduct a certain percentage if payment is made within 15 days, otherwise the full amount is due in 60 days.

Cash Discount

A reduction in price offered to a customer for paying in cash or within a specified short payment period.

Book Salesperson

An individual who specializes in selling books, typically working for publishers or bookstores and often responsible for organizing book fairs or visiting schools and libraries.

  • Fathom the contribution of discounts, including cash, trade, and volume discounts, to the effectiveness of sales strategies.

Verified Answer

Jamie & Mommy

Mar 10, 2024

Final Answer :
Explanation :
The term "3/15 net 60" refers to a cash discount where the buyer can take a 3% discount if they pay within 15 days; otherwise, the net amount is due in 60 days.