(our credit card statement for the month of June (30 days) has the following information. Your ending balance is 1387.50. The total of all the unpaid balance days is 52300.00. Interest for the month is 2.3%. a. Find the Average Daily Balance. b. Find the interest. c. What is the balance on July 1st.

(our credit card statement for the month of June (30 days) has the following information. Your ending balance is 1387.50. The total of all the unpaid balance days is 52300.00. Interest for the month is 2.3%. a. Find the Average Daily Balance. b. Find the interest. c. What is the balance on July 1st.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 1CE

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