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Vail Ski Shop received a $1,201 invoice dated July 8 with 2/10, 1/15, n/60 terms. On July 22, Vail sent a $485 partial payment. a.

Vail Ski Shop received a $1,201 invoice dated July 8 with 2/10, 1/15, n/60 terms. On July 22, Vail sent a $485 partial payment. a. What credit should Vail receive? (Round your answer to the nearest cent.)

b. What is Vails outstanding balance? (Round your answer to the nearest cent.)

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