Final answer:
Cody is credited $1,940.00 after making a partial payment of $2,000 during the discount period for an invoice with terms 3/10 n/30, resulting in a remaining balance of $2,060.00 on the invoice.
Step-by-step explanation:
The question involves calculating the amount credited and the balance on an invoice after a partial payment during the discount period provided by the payment terms.
Calculation of the Amount Credited
The payment terms 3/10 n/30 means that Cody can take a 3% discount if she pays within 10 days, otherwise the net (full) amount is due in 30 days. Since Cody made a partial payment of $2,000 during the discount period, we calculate the discount as follows:
Discount = $2,000 × (3/100)
= $60
Therefore, the amount credited to Cody's account is the partial payment minus the discount, which is $2,000 - $60 = $1,940.00.
Calculation of the Balance on the Invoice
To find the balance remaining on the invoice after the partial payment, we subtract the amount credited from the original invoice amount:
Balance = Original Invoice Amount - Amount Credited
Balance = $4,000 - $1,940
= $2,060.00.