Leo Corp has received an invoice for $6,500 with terms of 3/15, n/45 and uses the net method to record purchases. If Leo pays the invoice on the seventeenth day, the Cash account will be:
A. debited for $6,305
B. credited for $6,500
C. credited for $195
D. credited for $6,305
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Home » Business » Leo Corp has received an invoice for $6,500 with terms of 3/15, n/45 and uses the net method to record purchases. If Leo pays the invoice on the seventeenth day, the Cash account will be: A. debited for $6,305 B. credited for $6,500 C.