To calculate the credit for the partial payment and the net amount due on the invoice, we need to break it down step by step, considering the terms of the sale. Here’s how we can do it:

Given Information:

• Invoice amount = $8,303.00
• Terms of sale = 2/10, n/30
  • This means a 2% discount is available if the payment is made within 10 days.
• Partial payment = $2,200.00

Step 1: Determine if the discount applies

The 2% discount applies only if the payment is made within 10 days. We will assume the partial payment of $2,200 qualifies for the discount.

Step 2: Calculate the credit for the partial payment

The 2% discount on the partial payment of $2,200 is calculated as:

$\text{Credit for Partial Payment} = \text{Partial Payment} \times \text{Discount Rate}$ $\text{Credit for Partial Payment} = 2,200 \times 0.02 = 44.00$

Thus, the credit for the partial payment is $44.00.

Step 3: Calculate the net amount due

Next, we subtract the partial payment (after applying the discount) from the original invoice amount to find the remaining balance.

$\text{Net Amount Due} = \text{Invoice Amount} - (\text{Partial Payment} - \text{Credit for Partial Payment})$ $\text{Net Amount Due} = 8,303.00 - (2,200 - 44.00) = 8,303.00 - 2,156.00 = 6,147.00$

Thus, the net amount due is $6,147.00.

Final Answers:

• Credit for Partial Payment: $44.00
• Net Amount Due: $6,147.00

Would you like more details on this?

Here are 5 related questions:

1. What happens if the partial payment is made after 10 days?
2. How would a different discount rate affect the credit for partial payment?
3. How is the discount applied if the payment is not made in full?
4. What if the terms were 3/15, n/45? How would that affect the calculations?
5. How do late payments affect the amount due if no discount is applied?

Tip: Always check if the terms allow discounts on partial payments before calculating the credit.