Quiz 6-1 to 6-4 - What is the new balance of the account?

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Quiz 6-1 to 6-4 Name:_________________________ Money Management Date:______________Period:______ 1. Complete the sales receipt. Barney’s Service Description QTY Price Amount Motor Oil 5 $1.09 Filter 1 $5.69 Antifreeze 2 $3.30 SUBTOTAL 6% Sales Tax TOTAL Sign Here ________________________________ 2. What is the new balance for the credit statement shown? Billing Date Previous Balance Finance Charge New Purchases Payments & Credits New Balance 7/1/01 $235.67 $4.53 $350.00 $230.00 3. An account had a previous balance of $1,078.00 with $23.35 in finance charges. The owner made payments of $135 and $150, and they were given a store credit of $35.00.
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Unformatted text preview: What is the new balance of the account? ____________________ 4. Use the previous-balance method to complete the following statement. Use a periodic rate of 1.6%. Billing Date Previous Balance Finance Charge New Purchases Payments & Credits New Balance 7/1/01 $2350.67 $350.00 $230.00 5. Use the unpaid-balance method to complete the following statement. Use a periodic rate of 1.6%. Billing Date Previous Balance Finance Charge New Purchases Payments & Credits New Balance 7/1/01 $2350.67 $350.00 $230.00...
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This note was uploaded on 01/24/2012 for the course HUM 9999 taught by Professor Variousprofessorslisted during the Summer '06 term at Abilene Christian University.

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