Custom Kitchens received an invoice dated November 17 from Idea Cabinets Ltd. for $7260 with terms 3/15, 15/30,n/60. If Custom Kitchens made a payment of $4000 on December 2, what further payment on December 16 will settle the account?

To determine the remaining payment required to settle the account for Custom Kitchens, we first need to understand the terms associated with the invoice.

The terms "3/15, 15/30, n/60" are commonly referred to as "dating terms" in business transactions. Each number represents a specific condition related to the deadline for payment:

1. The first number represents the discount percentage that can be availed if the invoice is paid within the given number of days.
2. The second number indicates the time frame within which the entire invoice amount must be paid, without any discount applied.
3. The letter "n" represents the net period, which means the maximum number of days allowed to settle the account without any discount.

In this case, the terms "3/15, 15/30, n/60" can be interpreted as follows:

- If payment is made within 15 days from the invoice date (by December 2), a 3% discount can be availed.
- If payment is made between the 16th and 30th day after the invoice date, the full amount ($7260) is due, without any discount.
- If payment is made after the 30th day but within 60 days (up to January 16), no discount is applicable, and the full amount ($7260) is still payable.

Given that Custom Kitchens made a payment of $4000 on December 2, we can calculate the remaining payment required to settle the account as follows:

Remaining balance = Total invoice amount - Payment made
Remaining balance = $7260 - $4000
Remaining balance = $3260

Therefore, Custom Kitchens would need to make a further payment of $3260 on December 16 to settle the account.