A credit card bill due on April 5 showed a balance of $263. The cardholder forgot to pay the bill until the 20th of the month but paid the full amount of $263 at that time. In the meantime, the card was used to make purchases of $138 on the 10th of the month and $74 on the 20th of the month. What was the average daily balance for the billing period? a. 184.27 b. 36250 c. 95.97 d. 166.07

A credit card bill due on April 5 showed a balance of $263. The cardholder forgot to pay the bill until the 20th of the month but paid the full amount of $263 at that time. In the meantime, the card was used to make purchases of $138 on the 10th of the month and $74 on the 20th of the month. What was the average daily balance for the billing period? a. 184.27 b. 36250 c. 95.97 d. 166.07

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....

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