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Physics, 20.09.2020 06:01 2020kaylahernan

Thinking through and writing the answers to the questions below will help you further explore key concepts from this lesson's study activity. 1. During the month, you have been using your check register to keep track of financial activity related to your checking and savings accounts: ATM withdrawals, check deposits, written checks, receipts that detail your debit card spending, bill payments, and interest earned on your savings account. Today, you received your bank statement in the mail, and you opened the statement to reconcile with your check register. Fill in the table below to identify which transactions you expect to see as debits and as credits. (12 points: 2 points for each transaction) While reconciling your check register to your bank statement, you notice that your check register balance is $1250.00, while your bank statement balance is $1205.00. Describe what might account for the difference between the two balances. (10 points: 5 points for describing a technique for spotting the error, and 5 points for identifying the type.) After noticing the difference between the two balances, you are concerned because you have a college loan payment of $1225.00 that is due on Friday, and you won’t be paid again until Monday. You expected to have at least $1225.00 in your checking account to cover your loan payment, but the $1205.00 balance on your statement suggests you don’t have enough money. What should you do? (8 points)

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