From the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average dail balance should be $877.67. Respond to the customer's concern. Note: Round your final answer to the nearest cent. 28-day billing cycle 3/18 Billing date $ 664 Previous balance 3/24 Payment $ 60 Credit 3/29 Charge: Sears 4/5 Payment 250 19 Credit 4/9 Charge: Macy's 160 Average daily balance

From the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average dail balance should be $877.67. Respond to the customer's concern. Note: Round your final answer to the nearest cent. 28-day billing cycle 3/18 Billing date $ 664 Previous balance 3/24 Payment $ 60 Credit 3/29 Charge: Sears 4/5 Payment 250 19 Credit 4/9 Charge: Macy's 160 Average daily balance

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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A credit card account had a $299 balance on March 5. A purchase of $184 was made on March 12, and a payment of $10 O was made on March 28. Find the average daily balance if the billing date is April 5. (Round your answer to the nearest cent.)
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Please read the questions carefully the First question is asking for journal entry.
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