Bracelin's Feed & Fuel offers the credit terms shown below to its retail customers. Compute the missing values in the charge account shown. Assume that all payments are made within 30 days of the billing date. Round answers to the nearest cent.

TERMS: Finance Charge is based on the Net Balance, if any payment is received within 30 days of the billing date. If payment is made after 30 days, then the Finance Charge is based on the Previous Balance. Net Balance equals Previous Balance less Payments and Credits. In either case, the monthly rate is 1.25% on the first $500 and 1% on any amount over $500. These are annual percentage rates of 15% and 12%, respectively.

Billing Date	Previous Balance	Payment Amount	Credits	Net Balance	Finance Charge	New Purchases	New Balance
4/25/20- -	$2,301.01	$1,600.00	$0.00	$	$	$601.40	$