 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 	$2,800 	$ Incorrect: Your answer is incorrect. 	$ 

To solve this, we need to calculate the credit given for the partial payment based on the terms of the sale, and then determine the net amount due after considering the credit and partial payment.

### Breakdown of the process:

1. **Invoice amount**: $5,998.20
2. **Terms of sale**: 4/15, n/60
   - This means a **4% discount** is available if payment is made within **15 days**. The full payment is due within **60 days**, but no discount is available after 15 days.
3. **Partial payment**: $2,800
   - We assume this partial payment was made within the discount period (15 days) to qualify for the 4% discount.

### Step 1: Calculate the credit for the partial payment.
- The partial payment of $2,800 qualifies for a 4% discount.
- The credit is equal to the discount on the partial payment:

\[
\text{Credit for Partial Payment} = 2,800 \times \frac{4}{100} = 2,800 \times 0.04 = 112
\]

Thus, the credit for the partial payment is **$112**.

### Step 2: Calculate the net amount due.
- First, subtract the partial payment and the credit from the original invoice amount to find the net amount due:

\[
\text{Net Amount Due} = 5,998.20 - (2,800 + 112)
\]

\[
\text{Net Amount Due} = 5,998.20 - 2,912 = 3,086.20
\]

Thus, the net amount due is **$3,086.20**.

### Final Answers:
- **Credit for Partial Payment**: $112
- **Net Amount Due**: $3,086.20

Would you like further clarification on this process? Here are five related questions you might want to explore:

1. How does the 4/15, n/60 term affect the total payment if the payment is made after 15 days?
2. What would the credit be if the partial payment were higher or lower than $2,800?
3. How would you calculate the total amount saved if the entire invoice was paid within the discount period?
4. Can the discount be applied to multiple partial payments?
5. How do payment terms like these influence cash flow management for a business?

**Tip:** When dealing with discount terms, always ensure the payment is made within the discount period to maximize savings.

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: $2,800

Learn how to calculate the credit given for a partial payment of $2,800 on an invoice of $5,998.20, with 4/15, n/60 terms. The problem involves understanding invoice terms, calculating the discount, and determining the net amount due, rounded to the nearest cent. Ideal for students in Grades 9-12.

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