The term $2/10,$ net $60$ means Blank$\_\_\_\_\_\_.$

Multiple choice question.

there is a $10\%$ discount if the invoice is paid off in $2$ days, otherwise the entire amount is due in $60$ days

there is a $2\%$ discount if the invoice is paid off in $10$ days, otherwise the entire amount is due in $60$ days

only $2/10$ of the initial invoice is due in $60$ days