Question

Amount of

Invoice
Terms of
Sale
Partial
Payment
Credit for
Partial Payment
Net
Amount Due
$5,998.20
4/15, n/60
$3,100
$
$

Answer 1

Credit partial payment is "$3229.17" and Net amount due is "$2769.03".

Step-by-step explanation:

Given:

Invoice,

= $5998.20

Sales terms,

= 4/15, n/60

Partial payment,

= $3100

The credit partial payment will be:

=
`(Partial \ payment)/(1-Discount)`

=
`(3100)/(1-0.04)`

=
`(3100)/(0.96)`

=
`3229.17` ($)

The due net amount will be:

=
`5998.20-3229.17`

=
`2769.03` ($)