I have a model for budget item entries. Each entry contains the total
cost, the amount paid, and the amount due on the item - all are typed
float

I would like for the amount_due to be calculated for the user whenever
there is a change in total cost or amount paid. This change could be
when the item is initially being created or edited at some future
point.

Is this something that I'll just have to implement in javascript/ajax,
or is there already functionality like this built into rapid?

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