2.Study the account summary of the following credit card bank statement:Account numbers 3642 0243.DebitsAccount summaryGreditsBalance brought forwardR 2 000,80Payments and creditsPurchases and debitsR 1 380,50Interest chargedR22,51Transaction fees8,90Closing balance2.1Determine the 'payments and credits' value, if the client paid 25% ofthe closing balance of the previous month's statement.2.2Calculate the closing balance.Refer to the transaction fee structure on p. 96 for Question 3, 4 and 5.3.3.1A client wants to deposit R350 into his account.3.1.1 How much will it cost the client to deposit the cash at thebank's own ATM if this is his first deposit of the month?3.1.2 How much will it cost the client to deposit the cash inside thebranch if this is his sixth deposit this month?3.1.3 How much will it cost the client to deposit a cheque of R350at the bank's own ATM if this is his first deposit of the month?3.1.4 How much will it cost the client to deposít a cheque of R350inside the branch if this is his sixth deposit of the month?

Payments and credits is the amount paid as settlement to the Credit card dues.

Answered: 2.1 Determine the 'payments and…

2.1 Determine the 'payments and credits' value, if the client paid 25% c the closing balance of the previous month's statement. 2.2 Calculate the closing balance.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...

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Question

2.
Study the account summary of the following credit card bank statement:
Account numbers 3642 0243.
Debits
Account summary
Gredits
Balance brought forward
R 2 000,80
Payments and credits
Purchases and debits
R 1 380,50
Interest charged
R
22,51
Transaction fees
8,90
Closing balance
2.1
Determine the 'payments and credits' value, if the client paid 25% of
the closing balance of the previous month's statement.
2.2
Calculate the closing balance.
Refer to the transaction fee structure on p. 96 for Question 3, 4 and 5.
3.
3.1
A client wants to deposit R350 into his account.
3.1.1 How much will it cost the client to deposit the cash at the
bank's own ATM if this is his first deposit of the month?
3.1.2 How much will it cost the client to deposit the cash inside the
branch if this is his sixth deposit this month?
3.1.3 How much will it cost the client to deposit a cheque of R350
at the bank's own ATM if this is his first deposit of the month?
3.1.4 How much will it cost the client to deposít a cheque of R350
inside the branch if this is his sixth deposit of the month?

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