Lacy Dodd has been directed to pay all invoices in time to receive any discounts offered by

Question:

Lacy Dodd has been directed to pay all invoices in time to receive any discounts offered by vendors. However, she has an invoice with terms of 2/10, n/30 for $2,983 and the fund for has a balance of $2,196.83. So she elects to pay $2,000 on the invoice within the 10-day discount period and the remainder within the 30-day period. How much should be credited to the account for the $2,000 payment and how much remains to be paid?
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...