Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $383.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.) Statement of Account Billing cycle: July 1–31 DATE DESCRIPTION OF TRANSACTIONS CHARGES July 04 Kit and Capoodle Pets $109.08 July 08 Payment 61.00 July 16 Cash advance 92.82 July 22 Mountain Vineyards 31.37 July 29 Vu Video (credit) 97.97
Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $383.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.) Statement of Account Billing cycle: July 1–31 DATE DESCRIPTION OF TRANSACTIONS CHARGES July 04 Kit and Capoodle Pets $109.08 July 08 Payment 61.00 July 16 Cash advance 92.82 July 22 Mountain Vineyards 31.37 July 29 Vu Video (credit) 97.97
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...
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Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $383.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.)
Statement of Account
| Billing cycle: July 1–31 | ||
|---|---|---|
| DATE | DESCRIPTION OF TRANSACTIONS | CHARGES |
| July 04 | Kit and Capoodle Pets | $109.08 |
| July 08 | Payment | 61.00 |
| July 16 | Cash advance | 92.82 |
| July 22 | Mountain Vineyards | 31.37 |
| July 29 | Vu Video (credit) | 97.97 |
$
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