Look at the table below showing an example of a checkbook ledger. Malcolm has several receipts from recent transactions that he entered in his records. The receipts include an ATM receipt for an $80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00. When he finishes entering his transactions, Malcolm realizes that his balance is incorrect. Assuming that Malcolm had no beginning balance, what should his correct balance be? $624.50 $704.50 $755.50 $784.50

Question

Clyde

Mathematics

8 January, 22:34

Look at the table below showing an example of a checkbook ledger. Malcolm has several receipts from recent transactions that he entered in his records. The receipts include an ATM receipt for an $80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00. When he finishes entering his transactions, Malcolm realizes that his balance is incorrect. Assuming that Malcolm had no beginning balance, what should his correct balance be? $624.50 $704.50 $755.50 $784.50

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Answers (2)

Know the Answer?

Julianna Andersen · Answer 1

Julianna Andersen 8 January, 22:37

0

The answer is $624.50

Shania King · Answer 2

Starting with a $0 balance, we have:

$0.00 + $80.00 = $80.00

After the grocery store:

$80.00 - $25.50 = $54.50

After the paycheck deposit:

$54.50 + $650.00 = $704.50 total balance.