2. You have received credit card statement recently and it consisted of the following information March 1 Beginning balance RM 500 March 2 Tesco supermarket RM 465 March 6 Caltex petrol pump RM 100 March 15 Perodua service centre RM 1500 March 20 Payment RM 2000 March 27 Mas Golden Holidays RM 6500 March 31 Closing Based on the information above, in a piece of paper, calculate your: a) i. Average daily balance b) ii. Interest charge (18% per annum) c) iii. Minimum payment (5%)

2. You have received credit card statement recently and it consisted of the following information March 1 Beginning balance RM 500 March 2 Tesco supermarket RM 465 March 6 Caltex petrol pump RM 100 March 15 Perodua service centre RM 1500 March 20 Payment RM 2000 March 27 Mas Golden Holidays RM 6500 March 31 Closing Based on the information above, in a piece of paper, calculate your: a) i. Average daily balance b) ii. Interest charge (18% per annum) c) iii. Minimum payment (5%)

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...

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