I don’t really know how to ask the question I’m really confused by this the subject is financial math 1) Find the average daily balance, with new purchases included.DatesPaymentEnd-of-DayBalance# of daysPurchaseSum ofBalances9/6-9/17$600X9/18$140740X9/19-9/24X9/25$120X9/26-10/5XТОTALSum of Daily Balances# of daysAverage Daily Balance=

Answered: 1) Find the average dally balance, with…

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1) Find the average dally balance, with new purcnases included. Dates Payment Purchase End-of-Day х # of c Balance

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 2SEB: ANALYSIS OF ACTIVITY MEASURES Based on the financial statement data in Exercise 24-1B, compute the...

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Question

I don’t really know how to ask the question I’m really confused by this the subject is financial math

1) Find the average daily balance, with new purchases included.
Dates
Payment
End-of-Day
Balance
# of days
Purchase
Sum of
Balances
9/6-9/17
$600
X
9/18
$140
740
X
9/19-9/24
X
9/25
$120
X
9/26-10/5
X
ТОTAL
Sum of Daily Balances
# of days
Average Daily Balance
=

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The average daily balance is the amount that is the average of the months.

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