Which of the following is true of these credit terms: 3/15, n/30?

a. 15 Percent discount if the payable is paid within 3 days of the invoice date

b. 3 Percent discount if the payable is paid in the period between 15 days and 30 days after the invoice date

c. 3 Percent discount if the payable is paid within 15 days of the invoice date

d. 30 Percent discount if cash is paid on the sale date and 15% discount if paid 3 days after the invoice date