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  3. 4. 6/20/20-- $1,472.50 $750,00 $284.43 $365.70 b (

4. 6/20/20-- $1,472.50 $750,00 $284.43 $365.70 B (33 points) Lakeside Furniture Store offers the credit...

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Accounting

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4. 6/20/20-- $1,472.50 $750,00 $284.43 $365.70 B (33 points) Lakeside Furniture Store offers the credit terms shown below to its retail customers. In problems 3-5 compute the finance charge , if any, and the new balance. Assume that all payments are made within the current billing cycle. (3 points for each correct answer) TERMS: There will be no finance charge if the full amount of the new balance is received within 25 days after the cycle closing date . The finance charge, if any, is based upon the entire previous balance before any payments or credits are deducted. The rates are 1.5% per month on amounts up to $1,000 and 1.25% on amounts in excess of $1,000. These are annual percentage rates of 18% and 15%, respectively

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