Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.)
Amount of
Invoice	Terms of
Sale	Partial
Payment	Credit for
Partial Payment	Net
Amount Due
$5,998.20	4/15, n/60	$2,500	$ 
$ 

We are given the following information:

- Invoice amount: $5,998.20
- Terms of sale: 4/15, n/60 (4% discount if paid within 15 days; otherwise, the net amount is due within 60 days)
- Partial payment: $2,500

### Step 1: Calculate the discount for partial payment

The terms of sale offer a 4% discount if payment is made within 15 days. The discount on the partial payment is calculated as:

\[
\text{Discount} = \text{Partial Payment} \times 4\%
\]
\[
\text{Discount} = 2,500 \times 0.04 = 100
\]

So, the credit for the partial payment is:

\[
\text{Credit for Partial Payment} = 2,500 + 100 = 2,600
\]

### Step 2: Calculate the net amount due

The net amount due on the invoice is calculated by subtracting the credit from the invoice amount:

\[
\text{Net Amount Due} = \text{Invoice Amount} - \text{Credit for Partial Payment}
\]
\[
\text{Net Amount Due} = 5,998.20 - 2,600 = 3,398.20
\]

### Final Answer:

- **Credit for Partial Payment**: $2,600
- **Net Amount Due**: $3,398.20

Would you like more details or have any questions? 

Here are five related questions:
1. How would the result change if the discount rate was 3% instead of 4%?
2. How do you calculate the net amount due if no partial payment was made?
3. What happens if the payment is made after 15 days but before 60 days?
4. How is the discount calculated for multiple partial payments?
5. Why do companies offer discounts for early payments?

**Tip:** Always check the terms of sale to see if discounts apply before making a payment.

Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.)
Amount of Invoice: $5,998.20
Terms of Sale: 4/15, n/60
Partial Payment: $2,500
Credit for Partial Payment: $ 
Net Amount Due: $

Learn how to calculate the credit for a partial payment and the net amount due on an invoice with 4/15, n/60 payment terms. This example includes a $5,998.20 invoice with a $2,500 partial payment and a 4% discount, providing a detailed step-by-step solution.

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