Sounds a lot more like a driven clutch problem. What you described sounds more like it busted a button or two inside the rear clutch. You need to go inside the clutch area,jack the quad up and run it in gear to see what the clutches ars doing. I'd wait on ordering parts until you do this, because a new belt wont fix the clutch. Let us know what you see.
'96 Xplorer 300 Aftermarket CDI box, K&N filter, jet kit, reworked expansion chamber from dirt bike, 1" taller + 1" wider rear tires, dual wenches, Rack on rear/w cargo pac, polaris box on front, Mossy Oak cover on seat, back-up lights on rear, aux. power source for GPS,"Theft deturent's", hand protectors, new clutch springs coming! Would love to find GURU style bumpers! By the way, I'm also a graduate of AMI with over 20 years of motorcycle mechanical experiance. New to quads, but the same basic engines. 2 stroke or 4 stroke!