30-day billing cycle Previous balance 9/16 Billing date 9/19 Payment 9/30 Charge: Home Depot 10/3 Payment 10/7 Cash advance 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 $ 3,200
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- Calculate the average daily balance and finance charge. (Round your answers to the near 9/16 Billing date 9/19 Payment 9/30 Charge: Home Depot 10/3 Payment 10/7 Cash advance. 30-day billing cycle 4 Average daily balance Finance charge Previous balance Finance charge is 1% on average daily balance. S 62 cr. 1,600 62 cr. 72 $2,2003. Calculate the average billing daily balance for each of the monthly statements for the following revolving credit accounte assume a 30-day billing cycle: Billing date Payment amount Charge date(s) Charge amount(s) Average daily balance Previous Payment date 332.03 balance 4/29 $56 $35 a. 4/10 b. 6/15 $329 4/25 $25 6/26 6/30 $573 6/25 $60 $72 $12.50 $108 c. 9/15 $335.50 9/20 $33.55 9/25 9/26 find the finance charge for each monthly statement (problem 3) if the annual percentage rate is 15%Outstanding Deposits Date Check Number Date Amount Junouy s 150.190 2000l 287.50 13.50 15 .15 Total to 2.75 $314.50 2 A coshier had credit card sales of8752.40 over the last week, and issued refunds in the amoun If the fee per transaction in 2.5%, how much is owed, what are the net credit sales?
- Its. Problem 5 ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable: teme 20X2 20X1 Average accounts receivable $ 400,000 S 416,000 Net credit sales $2,600,000 $3.100,000 The terms of sale are net 30 days. Requirement: Compute the accounts receivable turnover and the collection period. Assume a 365-day year. is, anK The credit card with the transactions described on the right uses the average daily balance method to calculate interest. The monthly interest rate is 2.5% of the average daily balance. Calculate parts a-d using the statement on the right. Transaction Description Previous balance, $6220.00 March 1 Billing date March 5 Payment March 7 Charge: Restaurant March 12 Charge: Groceries $350.00 credit $60.00 $90.00 March 21 Charge: Car Repairs $240.00 March 31 End of billing period Payment Due Date: April 9 Transaction Amount ... a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $ (Round to the nearest cent as needed.) c. Find the balance due on April 1. The balance due on April 1 is $ (Use the answer from part b to find this answer.) b. Find the interest to be paid or April 1, the next billing date. Round to the nearest cent. The interest to be paid on April 1 is $ (Use the answer from part a to find this…QUESTION 1 Information about Calbee Company is provided below: Ending Accounts Receivable: $100,000 Total Credit Sales: $250,000 Beginning Allowance for Doubtful Accounts: $15,000 (Credit) Total Write-offs: $5.000 Calbee uses the percent of credit sales method. It estimates that 3% of credit sales will ultimately be uncollectible. What is the ending balance in the Allowance for Doubtful Accounts?
- 20 Omani Marble Company LLC sells (on credit) OMR 15000 Marble to a retailer with credit terms of 3/10, n/30. If OMR 9,000 of the account receivable is collected from the customer within the ten-days discount period, identify the journal entry from the following. a. Dr Accounts receivables OMR 9000 and Cr Cash OMR 8730 Cr sales discount OMR 270 b. Dr Cash OMR 8730 Dr sales discount OMR 270 and Cr Accounts receivables OMR 9000 c. Dr Cash OMR 9000 and Cr Accounts receivables OMR 9000 d. Dr Cash OMR 15000 and Cr Accounts receivables OMR 15000 Clear my choiceUsing the table, what is the average daily balance of the credit card for the July 1 - July 31 billing period? Round your answer to the nearest cent. Day Activity Adjustment Closing Balance 1 ----- ------ 8000 9 Payment −700 7300 19 Purchase +550 7850 27 Payment −600 7250Journal entry transactions-double entry system 9) Customer returned 14.000 TL + %10 VAT merchandise . Cost of Goods Sold is 8.400 TL. Check is issued for Refund to ,returned merchandise andTL cash is paid for VAT. At the end of the month USD is : 7.10TL/ USD .
- Transaction Amount The credit card with the Transaction Description transactions described on the right uses the average daily balance method to calculate interest. The Previous balance, $6310.00 March 1 Billing date March 5 Payment March 7 Charge: Restaurant March 12 Charge: Groceries March 21 Charge: Car Repairs $210.00 March 31 End of billing period Payment Due Date: April 9 monthly interest rate is 2.5% of the average daily balance. Calculate parts a-d using the statement on the right. |$400.00 credit $60.00 $70.00 a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $. (Round to the nearest cent as needed.)Current Attempt in Progress At December 1, 2022, Tamarisk, Inc. Accounts Receivable balance was $17470. During December, Tamarisk had credit sales of $46800 and collected accounts receivable of $37440. At December 31, 2022, the Accounts Receivable balance is O $64270 debit O $17470 debit O $26830 credit O $26830 debit Save for Later Attempts: 0 of 1 used Submit AnswerZips Corp reports the following: Net Credit Sales 100,000 A/R Jan 1 10,000 ADA Jan 1 1,000 A/R Dec 31 15,000 ADA Dec 31 2,000 The average number of days until an account is collected is 36.5 O46 O40 O 30
