Here's the details of Lhean Lim's Citibank credit card statement: Current statement date October 8, 2020 Next

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Here's the details of Lhean Lim's Citibank credit card statement:

Current statement date October 8, 2020

Next statement date November 8, 2020

Previous balance Php 80,000.00

Payment due date October 28,2020

Date of payment October 15,2020

Amount paid Php50,000.00

Citibank charges 2.50% interest per month. How much will be the finance charge that will be billed next month?

Related Book For answer-question

Accounting Volume 1

ISBN: 978-0132690096

9th Canadian edition

Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

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Posted Date: Feb 20, 2024 11:27 PM

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Here's the details of Lhean Lim's Citibank credit card statement: Current statement date October 8, 2020 Next

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Solution 1 To calculate the finance charge we first need to determine the average daily balance for ... View the full answer

Accounting Volume 1

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