It is for Mechanical engineering. Not Accounting

3. Assume that you have a credit card whose statement on April 1 showed that owe $1,890.00. You made a payment to the credit card company of $800.00 the same day using on-line payment. Throughout the month of April you cha $485.00 on this card which is posted on the May 1 statement. On May 1 you an on-line payment of $940.00 to the company. Throughout the month of M you charged $260.00 on this card which is posted on June 1. a) Draw a timeline showing this cash flow. b) How much do you owe the credit card company on June 1? Assume th company charges 1% interest per month. 2 3. Assume that you have a credit card whose statement on April 1 showed that you owe $1,890.00. You made a payment to the credit card company of $800.00 on the same day using on-line payment. Throughout the month of April you charged $485.00 on this card which is posted on the May 1 statement. On May 1 you made an on-line payment of $940.00 to the company. Throughout the month of May you charged $260.00 on this card which is posted on June 1. a) Draw a timeline showing this cash flow. b) How much do you owe the credit card company on June 1? Assume the company charges 1% interest per month