Question

Mike received a payment of $807.50 from Andrew on october 7 on an invoice of $2731.75...

Mike received a payment of $807.50 from Andrew on october 7 on an invoice of $2731.75 dated September 27, terms 5/10.

I) How much does Mike credit Andrew's account for the payment.

ii) How much does mike still owe on the invoice?

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