2.15) Find the average daily balance (new purchases included)PaymentEnd of DayBalanceDates11/1-11/211/311/4-11/1111/1211/13-11/30Average$125.00Purchase$65.00X Number ofDays$145.00 X$210.00 X$210.00 x$85.00 x$85.00 XTotal →2111830Sum ofBalances$290.00$210.00$1,680.00$85.00$1,530

Date Payment Purchase End of day balance X Number of Days Sum of balance 11/1-11/2 $145 X 2…

Answered: S -11/2 --11/11 Payment Purchase $65.00…

Business

Accounting

S -11/2 --11/11 Payment Purchase $65.00 End of Day Balance $145.00 $210.00 $210.00

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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Question

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2.15) Find the average daily balance (new purchases included)
Payment
End of Day
Balance
Dates
11/1-11/2
11/3
11/4-11/11
11/12
11/13-11/30
Average
$125.00
Purchase
$65.00
X Number of
Days
$145.00 X
$210.00 X
$210.00 x
$85.00 x
$85.00 X
Total →
2
1
1
18
30
Sum of
Balances
$290.00
$210.00
$1,680.00
$85.00
$1,530

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