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svet-max [94.6K]
3 years ago
12

Nick has a goal to pay his credit card balance in full by June 30. When he first wrote the goal in December, his balance was $2,

500. It is now April, and he can pay all except $200. Evaluate his progress and describe the results in one to two sentences.
Business
2 answers:
yan [13]3 years ago
4 0

Answer: Nick made excellent progress in reaching his goal. It is April and he is only $200 short of meeting his goal of paying the entire balance off by June.

Explanation: In this case Nick is doing very well in meeting his goal. With two months left to make payments, he only has $200 remaining to pay. He will be able to meet his goal by paying $100 in May and June.

Sliva [168]3 years ago
3 0
Nick paid around $383.00 per month on his credit card. He should've paid $400.00 a month
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However, on conversion to common stock with premium of $1000 outstanding in the books,the amount to be credited into common stock account is the issue value less outstanding premium.

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This can be shown with entries below:

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