Net 30

Hey kiddo, have you ever heard of net 30? It's a fancy term that businesses use when they buy or sell something, and it means that the buyer has 30 days to pay for what they bought.

So, let's say a business, like a toy store, wants to buy some new toys from a toy manufacturer. The toy manufacturer might say, "Okay, we'll give you net 30 terms." That means the toy store has 30 days to pay for the toys after they receive them.

It's like when you get a treat from the store but your mom tells you that you can't eat it until after dinner. You still get the treat, but you have to wait a little while before you can enjoy it.

Net 30 can be helpful for businesses because it gives them some time to make money from the products they bought before they have to pay for them. But it's important for them to remember to pay on time so that they don't get in trouble or hurt their reputation with the seller.

I hope that helps you understand net 30!