Stanford Marketing Inc. received an invoice for $3,500 on August 19, with terms 1/10, n/30, EOM. What amount will reduce the outstanding balance to $2,000 if paid on September 9?

Outstanding Balance

The amount of money owed that remains in a borrower's account that has not yet been paid.

Invoice

A document issued by a seller to a buyer, listing goods or services provided, with their prices, and requesting payment.

EOM

EOM stands for "End of Month," which is a term often used in accounting and business to signify deadlines or the conclusion of financial periods.