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On july 1, a company receives an invoice for $800 with term 1/10, net 30.

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chilljain33

The payment to be made on the invoice for $800 with term 1/10, net 30 will be $800, as the discount period has lapsed on the date of payment.

What is payment?

The dues, which are liable to be cleared off by the borrower or the buyer to the seller or owner of the goods being exchanged, are known as payments.

When discount is offered on payment for an invoice with terms of 1/10, the discount on payment shall lapse after 10 days and thus, full amount has to be paid on July 15, which is 14 days after the receipt of invoice.

Hence, the payment to be made is explained as above.

Learn more about payments here:

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