Question

The present month is July 2023. Prepare an age analysis for a creditor using the information provided below:

Purchases made in July 2022: R650
Purchases made in June 2022: R820
Payment made in full for June 2022: R?
Purchases made in may 2022: R390
Purchases made in April 2022 :R440

3. Show the following: show all calculations

3.1. The 0-30 days amount due
3.2. The balance due by M. Lake
3.3 The interest charged. Round off to 2 decimals

Answer 1

[AI-generated answer — Bot GPT 3.5]

To calculate the age analysis for the creditor, we need to consider the purchases made in each month and any payments made.

1. Total purchases made in April, May, June, and July 2022:
R440 (April) + R390 (May) + R820 (June) + R650 (July) = R2300

2. Total payment made for June 2022:
R2300 - R650 (July) = R1650

3. Age analysis:
3.1 The 0-30 days amount due:
R650 (July) = R650

3.2 The balance due by M. Lake:
R390 (May) + R440 (April) = R830

3.3 The interest charged:
R1650 (Total Due) - R2300 (Total Purchases) = R-650 (overpayment, no interest charged)