Drive 5:04 PM Sun Oct 25 85% Name: 4.6 Avenge Daily Balance NOTES Use the information give in the credit card talent to verify the axuncy of her anera daily balance Hilling De 13 Nov Payment le Sec DERITSCREDITS (-) ALEXXUNT INFORMATION Account Number 07-345-1299 TRANSACTIONS 25 Oct Ilouso Depot Bubble Wrap Shipping S Noy Payment S160.00 New SUMMA RY Minima Previous Balance Payments Credits Nem Purchase Late Charge Finance Charge Bilance SX2,3 160.00 S12700 $11.36 + ; $X03 39 APR Payment $59.00 Monthly Periodic Rate SW.00 Average Daily Balance Total Credit Line Total Available Credit $3,000.00 S2,196.61 Billing Cycle S854,40 $16. 1.4155 Stop Dawarilla las 7 less and sloed wildlane). Draw nare in cache con Step 2: On the walement you can find be number of days in de billing cycle. Because this savement has 31 days, you will shade in the last 4 days that will not be used. Step 3: Enter the billing date, 11/13 for this example, in the comer section of the last day of the calendar. Number the days hack from that date until the calendar is completely filled in. Step 4: Look at the posted dates of each of the charges (debits). Put a plug sinn (at the charged amount of the calendar dates that have debits posted. Nust look at the posted date of the payment made. Pula mis sign (-) and the payment made on that calendar date Step 5: The first day of the billing cyck is October 14. The previous balance of'S 29.20 is the amount owed on October 14. Enterthut balance on October 14. Notice that no purchases or payments were make until October 25, on each day from October 14 to Oclubur 24, the daily balance is 5829.30. Enter this number of each of these dates Step 6: A S67.00 purchase was made on October 25. The amoued on October 525 is increased by 567.00 The amount owed from October 25 10 October 28 is $89630 Step 7: A $55.00 purchase was made ca October 29. and a payment of S160.00 was made on November 5. The purchase must be added to the daily balance of October 29, and the payment must be subtracted from the daily balance of November. There are no other transactions, sa continue the daily Islance amount through to the aid of the billing escle Step 8: To find the average daily balance, add all the daily balances and divside by the number of days in the billing cycle, 21. Is the average daily balance listed on the statement corect? If not, what should it be? Is the finance charge for the billing cycle conect? If now, what should it be? Drive 5:04 PM Sun Oct 25 85% Name: 4.6 Avenge Daily Balance NOTES Use the information give in the credit card talent to verify the axuncy of her anera daily balance Hilling De 13 Nov Payment le Sec DERITSCREDITS (-) ALEXXUNT INFORMATION Account Number 07-345-1299 TRANSACTIONS 25 Oct Ilouso Depot Bubble Wrap Shipping S Noy Payment S160.00 New SUMMA RY Minima Previous Balance Payments Credits Nem Purchase Late Charge Finance Charge Bilance SX2,3 160.00 S12700 $11.36 + ; $X03 39 APR Payment $59.00 Monthly Periodic Rate SW.00 Average Daily Balance Total Credit Line Total Available Credit $3,000.00 S2,196.61 Billing Cycle S854,40 $16. 1.4155 Stop Dawarilla las 7 less and sloed wildlane). Draw nare in cache con Step 2: On the walement you can find be number of days in de billing cycle. Because this savement has 31 days, you will shade in the last 4 days that will not be used. Step 3: Enter the billing date, 11/13 for this example, in the comer section of the last day of the calendar. Number the days hack from that date until the calendar is completely filled in. Step 4: Look at the posted dates of each of the charges (debits). Put a plug sinn (at the charged amount of the calendar dates that have debits posted. Nust look at the posted date of the payment made. Pula mis sign (-) and the payment made on that calendar date Step 5: The first day of the billing cyck is October 14. The previous balance of'S 29.20 is the amount owed on October 14. Enterthut balance on October 14. Notice that no purchases or payments were make until October 25, on each day from October 14 to Oclubur 24, the daily balance is 5829.30. Enter this number of each of these dates Step 6: A S67.00 purchase was made on October 25. The amoued on October 525 is increased by 567.00 The amount owed from October 25 10 October 28 is $89630 Step 7: A $55.00 purchase was made ca October 29. and a payment of S160.00 was made on November 5. The purchase must be added to the daily balance of October 29, and the payment must be subtracted from the daily balance of November. There are no other transactions, sa continue the daily Islance amount through to the aid of the billing escle Step 8: To find the average daily balance, add all the daily balances and divside by the number of days in the billing cycle, 21. Is the average daily balance listed on the statement corect? If not, what should it be? Is the finance charge for the billing cycle conect? If now, what should it be