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stranahan stranahan
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7 years ago
Hansen Photography has the following outstanding account receivables at the end of the month. The monthly late fee is 1.50% of the outstanding balance at the end of the billing month following the sale (February sales receive a late fee in April if not paid by March 31). Determine the total late fees due for the following.

Invoice #   Bill Date   Customer   Original $   Late Fees $   Current Date
6872   6/15/2008   RLO   $321.00      9/30/2008
7100   6/25/2008   JBL   $417.00      9/30/2008
7469   7/12/2008   DLL   $585.00      9/30/2008

A) $48.17
B) $19.85
C) $31.08
D) $0.00
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
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blightermournblightermourn
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7 years ago
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stranahan Author
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#2
7 years ago
Thank you very much for this. It's really helpful.
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