Question
John Burton runs a blacksmith's workshop. His electricity bills come in every quarter. The current year's information included the following: i.On January 1, there was
John Burton runs a blacksmith's workshop. His electricity bills come in every quarter. The current year's information included the following:
i.On January 1, there was an unpaid bill covering the quarter to December 15 of the previous year of $250.
ii.Usage from December 15 to December 31 of the previous year was estimated to be $50.
iii.Bills received during the year were as follows:
Quarter for December 15 to March 15: $350, paid in April
Quarter for March 15 to June 15: $500, paid in June
Quarter for June 15 to Sept. 15: $ 450, paid in October
Quarter for September 15 to December 15: $350, still unpaid at the end of the year.
iv.Estimated usage from December 15 to December 31: $100.
Calculate the electricity expense for the year.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started