Credit cards provide many advantages and conveniences. They also carry charges and fees that can cost more money than planned for or anticipated. Late payment fees Interest charges Over- the-limit fees SUPERCHARGE 0432 56 791 413 Charles M. Sanuals Foreign transaction fees Balance transfer fees Credit Card Fees and Charges Larry's credit card has a variable interest rate, within a defined range, that changes periodically. The rate that the financial institution that issued his card uses as a basis to determine the current interest rate is called the base rate. The interest rate that applies to the credit card is computed as the sum of the base rate plus a certain percentage. According to the terms of his card, the interest rate is the base rate plus 7% Further, the minimum interest rate is 10%, and the maximum interest rate is 16%. • If the computed rate is less than or equal to 10%, he'll be charged 10%. • If the computed rate is greater than or equal to 16%, he'll be charged 16%. • If the computed rate is between 10% and 16%, he'll be charged the computed rate. Today, the base rate is 2%. What is Larry's interest rate today? • Late payment fees • Over-the-limit charges • Foreign transaction fees • Balance transfer fees In addition to interest charges, under certain circumstances, Larry could be subject to any the following other fees and charges: % For each of the following situations, choose the fee that most closely applies. • Larry currently carries a balance on his Visa from month to month. He's going to move his Visa balance to a MasterCard card that charges a lower interest rate. Larry will likely be charged • Larry's credit card payment was due on July 19. He made a payment on July 23. Larry will likely be charged • Most credit card holders have a defined line of credit, which is the maximum amount the financial institution approved for Larry to owe at any time. His line of credit is $1,000. He currently owes $1,350. Larry will likely be charged

You have established your performance materiality for accounts payable and revenue; now you must determine the posting materiality for individual items. The materiality judgement is at 4%. What is the posting materiality? Show your work.   Your work should look like: APPROPRIATE AMOUNT x MATERIALITY JUDGEMENT = POSTING MATERIALITY

Use the following sales journal to record the transactions. All credit sales are terms of n/30. (If a box is not used in the journal leave the box empty; do not select information or enter a zero.) i (Click the icon to view the transactions.) Jun Date 2024 Invoice No. Account Debited More info Jun. 1 Jun. 8 Customer Jun. 13 Jun. 28 Sales Journal Post. Ref. Accounts Receivable DR Sales Revenue CR Sold merchandise inventory on account to Ford Junk, $1,250. Cost of goods, $960. Invoice no. 101. Page Cost of Goods Sold DR Merchandise Inventory CR Sold merchandise inventory on account to Iris Fray, $2,250. Cost of goods, $1,650. Invoice no. 102. Sold merchandise inventory on account to Jack Tremane, $400. Cost of goods, $240. Invoice no. 103. Sold merchandise inventory on account to Gail White, $810. Cost of goods, $650. Invoice no. 104. Print Done X

Two methods of accounting for uncollectible accounts are the     Question 40 options:   allowance method and the accrual method.   allowance method and the net realizable method.   direct write-off method and the accrual method.   direct write-off method and the allowance method.