Ned’s Sheds purchases building materials from Timbertown Lumber for $3700 with terms of 4/10, 2/15, n/30. The invoice is dated October 17.

a) List the time periods, as well as the payment and percent discount for each period.
b) On November 1, a partial payment of $2000 was made. How much will be credited?
c) What is the remaining balance?

a) The terms of 4/10, 2/15, n/30 mean that Ned's Sheds can get a discount if they pay early within specific time periods. Here are the time periods and the corresponding payment and percent discount for each period:

1) Within 10 days from the invoice date (October 17): 4% discount
2) Within 15 days from the invoice date: 2% discount
3) Within 30 days from the invoice date: No discount (n indicates no specified discount period)

b) On November 1, a partial payment of $2000 was made. To determine how much will be credited, let's calculate the payment that falls within each discount period:

1) The payment made on November 1 is within 15 days (less than 30 days), so they can still avail the 2% discount.
Credited amount = $2000 - ($2000 x 2%) = $2000 - $40 = $1960

c) To find the remaining balance, we need to subtract the credited amount (from the partial payment) from the original purchase amount:

Remaining balance = Original purchase amount - Credited amount
= $3700 - $1960
= $1740

a) The time periods, payment terms, and percent discounts are as follows:

- 4/10: This means a 4% discount is given if payment is made within 10 days.
- 2/15: This means a 2% discount is given if payment is made within 15 days.
- n/30: This means the full amount is due within 30 days, with no discount mentioned.

b) On November 1, a $2000 partial payment was made. To determine how much will be credited, we need to calculate the discount allowed for this partial payment.

- The first discount of 4% applies to the full amount if paid within 10 days.
- The second discount of 2% applies to the remaining balance (after subtracting the amount already paid) if paid within 15 days.

To calculate the credi