The following table show's a credit cardholder's transactions for his credit card with statement date April 30. The credit card imposes a 2% monthly interest for unpaid balances and current purchases, and requires a minimum amount due of 5% of the total amount due. Complete the table below. Transaction Date Amount Total Amount Due in 26,000.00 Previous Statement Less: Payment April 6 12,000.00 Carry-Over Balance Late Payment Charge 0.00 Interest/Finance Charge (b) April 5 Gasoline 1,200.00 April 16 Groceries 4,300.00 Total Amount Due (c) Minimum Amount Due (d)
The following table show's a credit cardholder's transactions for his credit card with statement date April 30. The credit card imposes a 2% monthly interest for unpaid balances and current purchases, and requires a minimum amount due of 5% of the total amount due. Complete the table below. Transaction Date Amount Total Amount Due in 26,000.00 Previous Statement Less: Payment April 6 12,000.00 Carry-Over Balance Late Payment Charge 0.00 Interest/Finance Charge (b) April 5 Gasoline 1,200.00 April 16 Groceries 4,300.00 Total Amount Due (c) Minimum Amount Due (d)
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...
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Transcribed Image Text:7. The following table show's a credit cardholder's transactions for his credit card with statement date
April 30. The credit card imposes a 2% monthly interest for unpaid balances and current purchases,
and requires a minimum amount due of 5% of the total amount due. Complete the table below.
Transaction Date
Amount
Total Amount Due in
26,000.00
Previous Statement
Less: Payment
April 6
12,000.00
Carry-Over Balance
(a)
Late Payment Charge
0.00
Interest/Finance Charge
(b)
April 5
Gasoline
1,200.00
April 16
Groceries
4,300.00
Total Amount Due
(c)
Minimum Amount Due
(d)
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