With the overdraft method, interest is charged only on the daily ___.A.credit balanceB.
A.credit balance
B.debit balance
C.bank balance
D.payment balance
A.credit balance
B.debit balance
C.bank balance
D.payment balance
A.fee
B.account
C.merger
D.overdraft
A.agreed
B.bargained
C.discussed
D.decided
The following information is relevant for questions 2 and 3. On 1 May 20X9 Marshall's cash book showed a cash balance of $224 and an overdraft of $336. During the week ended 6 May the following transactions took place. May 1 Sold $160 of goods to P Dixon on credit. May 1 Withdrew $50 of cash from the bank for business use. May 2 Purchased goods from A Clarke on credit for $380 less 15% trade discount. May 2 Repaid a debt of $120 owing to R Hill, taking advantage of a 10% cash discount. The payment was by cheque. May 3 Sold $45 of goods for cash. May 4 Sold $80 of goods to M Maguire on credit, offering a 12.5% discount if payment made within 7 days. May 4 Paid a telephone bill of $210 by cheque. May 4 Purchased $400 of goods on credit from D Daley. May 5 Received a cheque from H Larkin for $180. Larkin has taken advantage of a $20 cash discount offered to him. May 5 Sold $304 of goods to M Donald on credit. May 5 Purchased $135 of goods from Honour Co by cheque. May 6 Received a cheque from D Randle for $482. May 6 Purchased $100 of goods on credit from G Perkins. What is the total of the purchases day book?
A、$880
B、$823
C、$1,033
D、$958
The legal relationship between a bank and a customer with an overdraft is respectively
A.creditor; debtor
B.debtor; creditor
C.mortgagor; mortgagee
D.mortgagee; mortgagor
A.draw
B.overdraw
C.withdraw
D.withdrawal
Interest on a bank overdraft will be charged to a firm's ______.
A.balance sheet
B.profit and loss account
C.current account
D.deposit account
A.credit balance
B.debit balance
C.bank balance
D.payment balance
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