a) Find the average daily balance for the billing period. b) Find the finance charge to be paid on February 17.Assume an interest rate of 1.2% per month. c) Find the balance due on February17.
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- 9/16 Billing date 9/19 Payment 9/30 Charge: Home Depot 10/3 Payment 10/7 Cash advance 30-day billing cycle. Previous balance Finance charge is 1.5% on average daily balance. Average daily balance Finance charge $ $ 2,741.00 41.12 $72 credit 2,100 72 credit 82 $ 3,200need june 30 payment oct 10 payment oct 31 interesrtSolve 31-day billing cycle 10/5 Billing date from previous Balance $ 3,300 10/11 Charge $ 320 10/18 Charge $ 1,240 10/25 Payment $ 400 11/1 Charge $ 630 Find the Average Balance:
- invoice may 15 date goods are received june 05 terms 3/10,n/30,ROG last day of discount period_______ final day bill is due (end of credit period)ll uil 12:33 0.00 KB/s cember 31, 2019. Problem Set A (Figure)The following is the adjusted trial balance data for Nino's Pizzeria as of December 31, 2019. PIZZERIA Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit Cash $ 775,984 Accounts Receivable 45,688 Buildings Merchandise Inventory 200,460 135,624 Accounts Payable $437,880 Common Stock 410,542 Sales 555,696 Interest Revenue 84,652 86,900 Rent Revenue Sales Salaries Expense 24,500 Office Supplies Expense 6,270 Sales Discounts 102,890 Interest Expense Sales Returns and Allowances 4,577 105,854 Cost of goods sold Rent Expense 122,853 20,000 Depreciation Expense: Office Equipment Insurance Expense Advertising Expense 10,555 2,780 17,635 Totals $1,575,670 $1,575,670 A. Use the data provided to compute net sales for E Previous: Discuss and Record Transactions Applying the Two Commonly Used Freight-In Methods Next: Appendix: Analyze and Record Transactions for Merchandise Purchases and Sales Using the Periodic Inventory…l SUN LTE VPN 10:45 AM 13% A lair.education The following information relates to Jack Company's accounts receivable for year 2: Accounts receivable, 1/1/year 2 P650,000 Credit sales for year 2 2,700,000 Sales return for year 2 75,000 Accounts written off during year 2 40,000 Collections from customers during year 2 2,150,000 Estimated future sales returns at 12/31/year 2 50,000 Estimated uncollectible accounts at 12/31/year 2 110,000 What amount should Jack report for accounts receivable, before allowances for sales returns and uncollectible accounts, at December 31, year 2? Answer: O
- * 00 HI F. R %24 EI Question 18 - Extra Credit- Char X Organization goals include Bin x- @https://ezto.mheducation.com/ext/map/index.html?_con3con&external browser%3D0&launchUrl%-https%253A%252F%252 (u) Hef Extra Credit- Chapter 11 & 13 Review Center Company makes collections on sales according to the following schedule: 30% in the month of sale 60 in the month following sale 8% in the second month following sale The following sales are expected: Expected Sales $135,000 $153,000 $140,000 January February March Cash collections in March should be budgeted to be: Multiple Choice Mc < Prev 18 of 20 Next 11!H OType here to search 小 F7 同I F10 反 +Do F5 F8 F11 F12 64 & %23 ) 3. 4. 5. 9. 6 P. KL21-Al Raffa Shopping Center purchased goods from Al Muna Shopping Center for OMR 9700. Which of the following is the discount period for the credit terms of 1/10, n/30 is: a. 30 days b. 0 day c. 10 days d. 1 dayGLOBE "l ON 47% D 1:05 Lite istructure.com 14 Problem 3 Record journal entries for the following sales transactions of Balloon Depot Company using periodic and perpetual method. • Mar. 8 - Sold 570 balloon bundles to a customer on credit for P38 per bundle. The cost to Balloon Depot was P25 per bundle. Terms of the sale are 3/10, n/30, invoice dated March 8. • Mar. 11 - The customer returned 70 bundles for a full refund from Balloon Depot. Balloon Depot returns the balloons to their inventory at the original cost of P25 per bundle. • Mar. 18 - The customer paid their account in full from the March 8 purchase.
- Next Question 24/10 Find the amount of the credit given to the business, based on the Sales/Refunds record for 09/24/10, after the 2.25% fee is subtracted. Sales Refunds $82.84 $32.06 $69.45 ..... $434.45 $69.19 $235.87 The total amount of credit will be $ $108.53 $123.32 (Round to the nearest cent as needed.) $60.85 $86.23 $139.47 $288.49 $150.28Solve 29-day billing cycle 4/17 Billing date Previous Balance $1,100 4/27 Payment $ 700 4/29 Charge $ 300 5/7 Payment $ 50 Find the Average daily balance:Word Problem 14-15 (Algo) [LU 14-2 (1)] From the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average daily balance should be $877.67. Respond to the customer's concern. Note: Round your final answer to the nearest cent. 28-day billing cycle 3/18 3/24 Billing date $ 664 Previous balance Payment $ 60 Credit 3/29 Charge: Sears 250 4/5 Payment 19 Credit 4/9 Charge: Macy's 160 Average daily balance