Find the average daily balance for the billing period. Round to the nearest cent The average daily balance for the billing period is $__

A credit card issuer calculates interest using the average daily balance method.  The monthly interest rate is 1.1% of the average daily balance.  The following transactions occurred during the November 1 – November 30 billing period. Transaction Description Transaction Amount Previous balance, $4620.80   November 1         Billing date   November 7         Payment $650.00 credit November 11       Charge: Airline Tickets $350.25 November 25       Charge: Groceries $125.70 November 28       Charge: Gas $38.25 November 30       End of billing period   Payment Due Date:  December 9   Find the average daily balance for the billing period.  Round to the nearest cent. Find the interest to be paid on December 1, the next billing date.  Round to the nearest cent.  Find the balance due on December 1. This credit card requires a $10 minimum monthly payment if the balance due at the end of the billing period is less than $360.  Otherwise, the…

At December 1, 2021, Vaughn Company's accounts receivable balance was $1860. During December, Vaughn had credit revenues on account of $7080 and collected accounts receivable of $6070. At December 31, 2021, the accounts receivable balance is $850 credit. Ⓒ $850 debit Ⓒ $2870 debit. O $2870 credit.

Alexis Monroe, a biologist from Dyersburg, Tennessee, is curious about the accuracy of the interest charges shown on her most recent credit card billing statement. Interest Charged Interest Charge on Purchases $6.40 Interest Charge on Cash Advances $4.65 TOTAL INTEREST FOR THIS MONTH $11.05 Use the average daily balances provided to recalculate the interest charges, and compare the result with the amount shown on the statement. Round your answers to the nearest cent.   Annual Percentage Balances Subject to   Type of Balance Rate (APR) Interest Rate Interest Charge Purchases 15.14% (V) $513.39 $   Cash Advances 22.43% (V) $252.98 $   Balance Transfers 0.00%     $637.50 $   Penalty APR 28.99%      $    0.00 $

Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 19.00%, with interest paid monthly, what is the card's EFF%? a.18.58% b. 19.52% с. 20.75% d. 21.94% e. 22.65%

The previous statement for your credit card had a balance of $570. You make purchases of $130 make a payment of $80. The credit card had an APR of 24%. What is the finance charge for this month?

Export PDF as long image without watermark Export FUNDAMENTALS OF ACCOUNTANCY BUSINESS AND MANAGEMENT 2 Self-Learning Activity 9 Name Year/Block: Date Direction: Write your answers on the space provided at the back of this Self Learning Activity. Learning Objective: After reading the module, the learners shall be able to: 4. Describe the nature of a bank reconciliation statement. 5. Identify common reconciling items and describe each of them. 6. Analyze the effects of the identified reconciling items. Reference: Quarter 1 Module 9 – Fundamentals of Accountancy, Business and Management 2 LEARNING ACTIVITY 9:1 Presented hereunder are the details of your Cash Receipts Journal, Cash Disbursements Journal and the Bank Statement of Banco de Oro. Cash Receipts Journal O.R. Number Amount Payor Odessa Alera Date 0001 P 30,000 June 3 0002 0003 20,000 5,000 20 Arnold Navales 29 Juanita Nambatac 0004 10,000 30 Kyle Jamora Cash Disbursements Journal Check Number Amount Payee Star 5 Grocery DX…

Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) Monthly Annual Finance Purchases Payments and New Previous Periodic Percentage Rate (APR) Charge (in $) and Cash Balance Balance Rate Advances Credits (in $) (as a %) $1,027.61 % 1% $322.20 $400.00

Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous mo th's balance. (Round dollars to the nearest cent.) Annual Monthly Finance Purchases Payments New Previous Percentage Rate (APR) (as a %) Periodic Charge and Cash and Balance Balance Rate (in $) Advances Credits (in $) 1-% $ 31.12 $2,490.00 15 % $1,354.98 $300.00 3576.1 4

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