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SportZ has secured a line of credit with the Bank of Alberta. The following transactions...

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Accounting

SportZ has secured a line of credit with the Bank of Alberta. The following transactions were made for the last month. The account receives daily interest of 1.5% p.a. on positive balances and pays daily interest of 8% p.a. on negative balances. The limit on the line of credit is . Overdraft interest of 19% p.a. is charged on the daily amount exceeding the line of credit limit. For each transaction causing an overdraft or adding to an overdraft, a service charge of is applied. Calculate the interest, overdraft interest, service charges, and the month-end balance for the line of credit.
Date
Transaction Description
Deposit
Withdrawal
Balance
March 1
Balance
5
Cheque 437
2185.00
7
Cheque 438
421.00
12
Deposit
6000.00
15
Cheque 439
5128.00
21
Cheque 440
6133.00
23
Deposit
2000.00
27
Deposit
5000.00
31
Interest charged
?
Overdraft interest
?
Service charge
?

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