business math

Question

on march 11, jangles corp. received a 20,000 invoice dated march 8, cash discount terms were 4/10, n/30. on march 15, jangles sent an 8,000 partial payment. what credit should jangles receive? what is jangles outstanding balance?

Answer 1

Jangles paid the $8000 within 10 days, therefore they get a 4% credit. 

4%*8000=$320.

Jangles' outstanding balance is

$20,000-$8,000-$320=$11,680