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1. The table below shows the activity on the credit card statement of Miss PepperCorn for the month of May. She started the month with a balance of $342.63. Round your answers to the nearest cent. a. Location Date Activity 05/05 Payment Payment 05/15 Charge Gas 05/27 Charge Macy's Amount $200.00 $52.37 $105.42 Make a table showing each transaction to find the average daily balance for the month of May. Below your table, remember to show your work for calculating the average daily balance. Explain.

1. The table below shows the activity on the credit card statement of Miss PepperCorn for the month of May. She started the month with a balance of $342.63. Round your answers to the nearest cent. a. Location Date Activity 05/05 Payment Payment 05/15 Charge Gas 05/27 Charge Macy's Amount $200.00 $52.37 $105.42 Make a table showing each transaction to find the average daily balance for the month of May. Below your table, remember to show your work for calculating the average daily balance. Explain.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. The table below shows the activity on the credit card statement of Miss PepperCorn for the month of May. She started the month with a balance of $342.63. Round your answers to the nearest cent. a. Date Activity Location 05/05 Payment Payment 05/15 Charge Gas 05/27 Charge Macy's Amount $200.00 $52.37 $105.42 Make a table showing each transaction to find the average daily balance for the month of May. Below your table, remember to show your work for calculating the average daily balance. Explain.
Transcribed Image Text:1. The table below shows the activity on the credit card statement of Miss PepperCorn for the month of May. She started the month with a balance of $342.63. Round your answers to the nearest cent. a. Date Activity Location 05/05 Payment Payment 05/15 Charge Gas 05/27 Charge Macy's Amount $200.00 $52.37 $105.42 Make a table showing each transaction to find the average daily balance for the month of May. Below your table, remember to show your work for calculating the average daily balance. Explain.
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