Question 1038666
the invoice was for 8750.
the partial payment was 7500.
the discount was 2.5%
the discount rate as a percent is divided by 100 to get the discount rate as a decimal.
the discount rate as a decimal becomes .025.
you would subtract the discount rate as a decimal from 1 to get 1 - discount rate = .975.
you would divide the payment by .975 to get 7500/.975 = 7692.307692.
this is the credit that is applied to the invoice.
you get 8750 - 7692.307692 = 1057.692308.
you would round this to 1057.69.
this is the balance due after the credit has been applied.