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. C
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- McqQuestion attached thanks for the help 4602o4063o eroge fo03 303fefeHomework: Section 8.8 Assignment 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. Question 7, 8.8.1 Part 3 of 4 Help me solve this Transaction Description Previous balance, $6240.00 March 1 Billing date March 5 Payment $400.00 credit $50.00 March 7 Charge: Restaurant March 12 Charge: Groceries $100.00 March 21 Charge: Car Repairs $280.00 March 31 End of billing period Payment Due Date: April 9 a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $ 6095.81. (Round to the nearest cent as needed.) View an example Transaction Amount 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 $152.40. (Use the answer from part a to find this answer.…
- Question 8 of 20 Widgets, Inc. makes a $300 on account sale to Custom Motors. How is the sale recorded in the Accounts Receivable subsidiary ledger? O A. as a $300 debit O B. It is recorded upon payment. O C. as a $300 payment D. as a $300 credit SUBMITanswer the followingPROBLEM 1 A trial balance before adjustment included the following: Credit Debit P120,000 Accounts receivable Allowance for doubtful accounts 730 Sales P510,000 Sales returns and allowances 8,000 Give journal entries assuming that the estimate of uncollectibles is determined by taking (1) 5% of gross accounts receivable and (2) 1% of net sales
- Subject:Solve 29-day billing cycle 4/17 Billing date Previous Balance $1,100 4/27 Payment $ 700 4/29 Charge $ 300 5/7 Payment $ 50 Find the Average daily balance:ll uil 12:33 0.00 KB/s cember 31, 2019. Problem Set A (Figure)The following is the adjusted trial balance data for Nino's Pizzeria as of December 31, 2019. PIZZERIA Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit Cash $ 775,984 Accounts Receivable 45,688 Buildings Merchandise Inventory 200,460 135,624 Accounts Payable $437,880 Common Stock 410,542 Sales 555,696 Interest Revenue 84,652 86,900 Rent Revenue Sales Salaries Expense 24,500 Office Supplies Expense 6,270 Sales Discounts 102,890 Interest Expense Sales Returns and Allowances 4,577 105,854 Cost of goods sold Rent Expense 122,853 20,000 Depreciation Expense: Office Equipment Insurance Expense Advertising Expense 10,555 2,780 17,635 Totals $1,575,670 $1,575,670 A. Use the data provided to compute net sales for E Previous: Discuss and Record Transactions Applying the Two Commonly Used Freight-In Methods Next: Appendix: Analyze and Record Transactions for Merchandise Purchases and Sales Using the Periodic Inventory…