Question

Amount of

Answer 1

Answer:

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

Explanation:

Given:

Invoice,

= $5998.20

Sales terms,

= 4/15, n/60

Partial payment,

= $3100

The credit partial payment will be:

= $\frac{Partial \ payment}{1-Discount}$

= $\frac{3100}{1-0.04}$

= $\frac{3100}{0.96}$

= $3229.17$ ($)

The due net amount will be:

= $5998.20-3229.17$

= $2769.03$ ($)