1. What is the current balance that Joe Doe owes? $1270.542.What is the total amount that Joe charged for this billing cycle?a. List the purchases that Joe made.3. How much did Joe pay for his last payment?4. Why was Joe charged $35 by the credit card company?5. How much interest was Joe charged for this month?6. What is the credit limit that Joe has for this credit card?a. What is Joe’s available credit?7. What is APR for purchases for this credit card?8. What is the minimum payment amount that Joe must make?9. When is the due date for Joe to make a payment?10. Did Joe take a cash advance on this credit card?11.Why did you think the federal government requires that financial institutions place a “Total Minimum Payment Warning” on all credit card statements? ll AT&T2:52 PM48%Directions: Use the credit card statement to answerthe questions on the following page.Summary of Account ActivityPayment Information$1270.54$25.004/29/19Current Balance.....Previous BalancePayments....Other CreditsPurchasesBalance TransfersCash Advances .$1000.00 Minimum Payment Due$500.00$0.00$725.00$0.00$0.00 receive your minimum payment by the date$0.00 listed above, you may have to pay a $35 late$35.00 fee and your APRa may be increased up to$10.54 the penalty APR of 28.99%Payment Due Date....Late Payment WVarning: If we do notDue Amount.Fees Charged.Interest ChargedCurrent BalanceCredit LimitAvailable CreditStatement Closing DateDays in Billing Cycle.$1270.54Total Minimum Payment Warning: If you$5000.00 make only minimum payments, you will pay$3729.4604/2019 more and it will take longer to pay off yourbalance. For example:30Questicas! Call Customer Service...I-800-xXX-Lost or Stolen Credir Card.1-S00-K-XXX• if you pay only the minimumpayment it wil take 93 monthe to payoff and you will have paid $1891.33TRANBACTION BUMMARYDateDescriptionReferenceChargesCredits3/25Grocery Land$142.003/27Book StoreXX99900XX9$33.004/1Restaurant$125.004/19Payment$500.004/19Bob's AutoXX99900X9$425.00Fees and Iuterest$35.00$0.00$0.00$0.0010.54FINANCE CHARGE CALCULATIONLate feesBalance transfer feenPurchases @ 13.99% APR: $0.00Balance Transfers @ 13.99% APR: $O.00Cash advance feesTotal fees for this periodTotal interest for iCash Advances @ 25.99% APR: $0.00periodSend Payment to:Blue CARD SERVICESPO BOX 999MONEYVILLE, MA 99999-9999Account Number 9999 5555 9999 s555Payment Due Date: 4/29/2019New Balance Total: $1270.54Current Payment Due: $25.00Amount Enclosed $ANALYSISJohn Doe's Credit

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What is the current balance that Joe Doe owes? $1270.54 2.What is the total amount that Joe charged for this billing cycle? a. List the purchases that Joe made. 3. How much did Joe pay for his last payment?

What is the current balance that Joe Doe owes? $1270.54 2.What is the total amount that Joe charged for this billing cycle? a. List the purchases that Joe made. 3. How much did Joe pay for his last payment?

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 1.4C

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