If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount fromyour checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehneris going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 9% APR and thefollowing transactions? (Round your answer to the nearest cent.)31 day billing cycle10/1 Previous balance$1,16910/3 credit10/12 Charge: King Soopers10/15 Payment10/25 charge: Delta10/30 Charge: Holiday Fun$74 cr.153360 cr.32666Amount owed

Name: If you are trying to build credit by using a credit card, each time y
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Description: If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount fromyour checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off

To find out the amount owed, closing balance needs to be added with monthly finance charge.

Answered: 31-day billing cycle 10/1 Previous…

Business

Accounting

31-day billing cycle 10/1 Previous balance 10/3 Credit 10/12 Charge: King Soopers 10/15 Payment 10/25 charge: Delta 10/30 Charge: Holiday Fun $1,169 $74 cr. 153 360 cr. 326 66

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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