Question
The company Industries del ALICORP SRL carries out the following transactions in its current account in MN that it maintains at Banco Nuevo Amanecer. Said
The company Industries del ALICORP SRL carries out the following transactions in its current account in MN that it maintains at Banco Nuevo Amanecer. Said bank charges a TEA of 90.25% for overdrafts.
- 01-oct initial balance w/o. 0.00
- 03-Oct cash deposit for S/.62,000.00
- 05-Oct has an expense of S/. 5,000.00
- 09-Oct has an expense of S/. 49,000.00
- Oct 13 has an expense of S/.25,000.00
- 15-oct allowance for payment of bills for S/.68,000.00
- Oct 20 has an expense of S/. 7,000.00
- Oct 25 cash deposit for S/. 2,000.00
- Oct 31 has an expense of S/. 5,000.00
You are asked to find the interest generated by the overdraft transaction(s)
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
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