Encik Qash recently received his Visa bill for the period of March 15th-April 14th, 2006. He wants to verify the monthly finance charges calculation, which is assessed at a rate of 18 percent per year. The government set 5% minimum repayment on credit cards. 15/03/2006 Opening balance RM5,400 20/03/2006 IKEA Damansara - sofa set 3,000 22/03/2006 Repayment 4,000 28/03/2006 Smartshop - Ab King Pro 550 30/03/2006 Return Ab King Pro to Smartshop due to defect 550 01/04/2006 Purchase return airline ticket to Kota Kinabalu 850 07/04/2006 Hyatt, Kota Kinabalu 900 Use the average daily balance method including current purchases and adjusted balance method for your calculations. Which is the best method, and why? 2.

Encik Qash recently received his Visa bill for the period of March 15th-April 14th, 2006. He wants to verify the monthly finance charges calculation, which is assessed at a rate of 18 percent per year. The government set 5% minimum repayment on credit cards. 15/03/2006 Opening balance RM5,400 20/03/2006 IKEA Damansara - sofa set 3,000 22/03/2006 Repayment 4,000 28/03/2006 Smartshop - Ab King Pro 550 30/03/2006 Return Ab King Pro to Smartshop due to defect 550 01/04/2006 Purchase return airline ticket to Kota Kinabalu 850 07/04/2006 Hyatt, Kota Kinabalu 900 Use the average daily balance method including current purchases and adjusted balance method for your calculations. Which is the best method, and why? 2.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 30P

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