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Carrie purchases a $4,500 entertainment system on a revolving charge account. The seller charges interest monthly at 12% per year using the unpaid balance method.
Carrie purchases a $4,500 entertainment system on a revolving charge account. The seller charges interest monthly at 12% per year using the unpaid balance method. Carrie pays $400 per month. What is the interest amount in Period 3?
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
