Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a customer uses their charles's sport shop credit

A customer uses their Charles's Sport Shop credit card to charge a treadmill at Charles's...

70.2K

Verified Solution

Question

Accounting

A customer uses their Charles's Sport Shop credit card to charge a treadmill at Charles's Sport
Shop. The price is $720 and the interest charge is 20% per annum if the bill is NOT paid in 30 days.
The customer fails to pay the bill within 30 days and interest is added to the customer's account.
What is the amount of the interest?(Use 365 daysfor calculation.)
$24
$144
$12
$5

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Indicate which of the following statements are true regarding fats. Question options: (all that apply) In a fat...

Chemistry
Q

If a sequence of one strand of DNA is ATTGCTCG, what is the complementary sequence?

Biology
Q

What are the 7 steps of Intramembranous ossification?

Biology
Q

What is the difference between random error and systematic errors ? How do you correct each...

Physics
Q

A generator with an rms voltage of 130 V is connected in series to a resistor...

Physics
Q

A circus owner wants to place an ATM at a location that is equidistant from...

Geometry
Q

Service Lube oil and filter 5000 Tire rotation and brake 10000 inspection Wheel alignment inspection...

Basic Math
Q

Choose the responses which make the following statements TRUE regarding the graph of f x...

Algebra
Q

1) Present, in journal form, the adjustments that would be made on July 31, 2018,...

Accounting
Q

Phoebe Company ended its fiscal year on July 31,2020. The company's adjusted trial balance as...

Accounting
Q

Earnings per share for the year ended December 31, 2024, are $1.36. The closing stock...

Accounting
Q

Compute cash and cash equivalents as a percent of total current assets, total current liabilities,...

Accounting