FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Suppose the charge account of Black's Mailing Service at the local supply store had a
1.5%
interest rate per month on the average daily balance. Find the Black's finance charge on April 1 if Black's had an unpaid balance on March 1 of
$104.08,
a payment of
$15.00
posted on March
11,
and a purchase of
$28.32
posted on March
21.
The billing cycle ends March 31.
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