Final answer:
A high school mathematics question where the discount on a partial payment made within the discount period of an invoice is calculated, and the remaining balance is determined after the payment.
Step-by-step explanation:
The question involves calculating the discount for early payment on an invoice and determining the amount due after a partial payment is made within the discount period. The terms of the invoice are 2/10, n/60, which means that a 2% discount is available if the payment is made within 10 days of the invoice date (May 6), otherwise the net amount is due in 60 days. Since a payment of $400 is made on May 15, which is within the 10-day discount period, the discount can be applied. The discount on the $400 payment would be 2% of $400, which is $8. Thus, the net payment that will be applied to the invoice is $400 - $8 = $392. The remaining balance on the invoice would be $700 - $392 = $308, assuming no other payments or charges are involved.
The subject of this question is Business as it pertains to invoice management. The student provided information about an invoice with a total amount of $700, terms of 2/10, n/60, an invoice date of 5/6, an actual partial payment made of $400, and a date of partial payment on 5/15.To calculate the amount due after the partial payment, we can apply the discount terms of 2/10.The amount due after the partial payment would be $700 - $400 = $300. The discount would be calculated as 2% of $300 = $6. Therefore, the remaining amount due would be $300 - $6 = $294.