Outstanding DepositsDateCheck NumberDateAmountJunouys 150.1902000l287.5013.5015.15Totalto2.75$314.502 A coshier had credit card sales of8752.40 over the last week, and issued refunds in the amounIf the fee per transaction in 2.5%, how much is owed, what are the net credit sales?

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Answered: O A coshier had credit card sales…

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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PLEASE MAKE IT IN EXCEL AND SHOW THE FORMULAS (Take screenshots) La Resolana, S.A., has credit sales of $180,000 per year, with net payment terms of 30 days, which is also the average collection period. La Resolana does not currently offer any cash discounts, so customers take the 30 days to pay. What is the average accounts receivable balance? What is the accounts receivable turnover?
calculate the monthly finance charge for the credit card transaction. Know that it takes 10 days for a payment to be received and recorded and that the month has 30 days . Round to the nearest cent. $4000 balance, 16%, $2500 payment what was the previous balance and the adjusted balance?
H5.
The previous statement for your credit card had a balance of $570. You make purchases of $130 make a payment of $80. The credit card had an APR of 24%. What is the finance charge for this month?
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MN.3.
The receivable tumover of Doris Co. for 2018 was 5 times with credit sales of P300,000. There are 300 business days during the year. The accounts receivable balance on Jan was P75,000. What was the accounts receivable balance on December 31, 2 2018 ?
Sweetens Cove, Incorporated, has weekly credit sales of $69400 and the average collection period is 23 days. What is the average accounts receivable figure?
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days ong. (Round your answers to the nearest cent.) $3000 balance, 17%, $2,500 payment (a) previous balance method (b) adjusted balance method (c) average daily balance method
K1. 15) FIGURE OUT THE NEW STATEMENT BALANCE. You have a credit card that charges 18.99% on any outstanding balances, and 25% on cash advances, plus a fee of 3% of the amount of the cash advance. The closing date on the credit card is the 1st of each month. Last month you left a balance of $1800 on your credit card. This month you took out a cash advance of $450 and made $1600 in additional purchases. You made a payment of $950. What will the total of your new balance be on your next credit card statement, considering finance charges?
so.4 A credit card has a $730 balance and a 18.44% annual percentage rate the minimum required monthly payment is 2.83% of the balance estimate the credit card balance after 54 payments.
19. The accounts receivable turnover is 8.14, and average net accounts receivable during the period is $400,000. What is the amount of net credit sales for the period? Brief Exercises Identify different types of receivables. BE8.1 (LO 1), C The following are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balan a. Sold merchandise on account for $64,000 to a customer. b. Received a promissory note of $57,000 for services performed. c. Advanced $10,000 to an employee. Record basic accounts receivable transactions. PEO AR Rooord the following transactions on the books of Jarvis Co. (Omit cost of goods sold entries.)

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O A coshier had credit card sales of8752.40 over the last week, and issued refunds in th If the fee per transaction in 2.5%, how much is owed, what are the net credit sales?