If Dakota Medical Suppliers receive an invoice for purchases dated 12/12/2007 subject to credit terms of "2/10, net 30," what is the last possible day the discount can be taken?

A. January 11
B. December 22
C. December 30

Correct Answer: B

The term "2/10" refers to a firm that can take the discount for only 10 days from the date of the invoice. Thus, goods shipped on the 12th are due no later than the 22nd if the discount is taken.