Here is a bill from a credit card company that a credit card user received: May 1: Unpaid Balance = P42,500.75; May 10: Payment Received = P2,125.00; May 15: Purchases = P1,450. Compute the total amount due at the end the billing period which is May 25.
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Here is a bill from a credit card company that a credit card user received:
May 1: Unpaid Balance = P42,500.75; May 10: Payment Received = P2,125.00; May 15: Purchases = P1,450. Compute the total amount due at the end the billing period which is May 25.
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- Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?Your company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalUsing the table, what is the average daily balance of the credit card for the August 1 - August 31 billing period? Round your answer to the nearest cent. Provide your answer below: Day Activity Adjustment Closing Balance 1 850 8 Payment -400 450 16 Purchase +350 800 24 Purchase +600 1,400
- Using the table, what is the average daily balance of the credit card for the August 1 through August 31 billing period? Round your answer to the nearest dollar. Provide your answer below: Day Activity Adjustment Closing Balance 1 950 8 Payment -400 550 16 Purchase +250 800 24 Purchase +100 900The credit card with the transactions described in the pop-up below, uses the average daily balance method to calculate interest. The monthly interest rate is 1.7% of the average daily balance calculate parts a-d using a statement in the pop-up. a. Find the average daily balance, for the billing record round to the nearest cent the average daily balance for the billing period is $__? b. Find the interest to be paid on July 1, the next billing date. Round to the nearest cent. The interest to be paid on July 1 is $__? c. Find the balance due on July 1. The balance due on July 1 is $__? d. This credit card requires a $30 minimum monthly payment if the balance due at the end of the billing period is less than $400. Otherwise, the minimum monthly payment is 1/25 of the balance due at the end of the billing period, rounded up to the nearest whole dollar. What is the minimum monthly payment due by July 9? The minimum monthly payment is $__?A credit sale is made on July 10 for $800, terms 4/10, n/30. On July 12, $150 of goods are returned for credit. Give the journal entry on July 19 to record the receipt of the balance due within the discount period. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 19 Debit Credit
- A credit card has a monthly rate of 1.6% and uses the average daily balance method for calculating interest. Here are some of the details in the June 1-June 30 itemized billing: June 1 Unpaid Balance: $450.98 Payment Received June 9: $130 Purchases Charged to the Account: $259.1 Average Daily Balance: $355.65 Last Day of the Billing Period: June 30 Payment Due Date: July 9. Click the icon to view the table. O A. a. $5.51 b. $326.49 c. $20.00 O c. a. $5.69 b. $585.77 c. $58.58 a. Find the interest due on the payment. due date. b. Find the total balance owed on the last day of the billing period. c. Minimum payment terms are shown in the accompanying table. What is the minimum payment due by July 9? C OB. a. $5.76 b. $320.98 c. $20.00 OD. a. $5.76 b. $676.63 3. $58.58The credit card with the transaction described in the popup below uses the average daily balance method to calculate interest.The monthly interest rate is 1.5% of the average daily balance. A.The average daily balance for the billing period. B.Find the interest to be paid on july 1,the next billing date. C.Find the balance due on july 1.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. a. Find the average daily balance for the billing period. Round to the nearest cent.The average daily balance for the billing period is $_ B.Find the interest to be paid on April 1, the next billing date.Round to the nearest cent. C.Find the balance due on April 1.
- 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 Transaction Amount Previous balance, $6230.00 March 1 Billing date March 5 Payment March 7 Charge: Restaurant March 12 Charge: Groceries March 21 Charge: Car Repairs $240.00 March 31 End of billing period Payment Due Date: April 9 $250.00 credit $30.00 $80.00 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.) b. Find the interest to be paid on 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 answer. Round to the nearest cent as needed.) c. Find the balance due on April 1. The balance due on April 1 is $. (Use…The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.6% of the average daily balance. A. Find the average daily balance for the billing period. B.Find the interest to be paid on july 1, the next billing date. C.Find the balance due on july 1.The table below shows a summary of Carmen's credit card statement for the month of November. Transaction types Unpaid balance from October (Beginning balance on November 1) Purchases made during the month of November Payments made during the month of November Complete the parts below. Write your answer to the nearest cent. Amount $2677.32 $443.70 $386.60 (a) Suppose the credit card company charges 1.82% monthly interest on the unpaid balance from October. How much interest will this be? $0 (b) What will Carmen's unpaid balance be on her December 1 statement? (Assume that this balance will include the interest from part (a), but will not include any interest on her November balance yet.) $0