Mathematics
financial literacy quest

Question Description

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. List which transactions you expect to see as debits and as credits.

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Final Answer

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The transactions that would be listed as debits would be those that you have deducated or taken out of your account. Such as the ATM withdrawals, written checks, and bill payments. Those listed as credits would consist of being the interest earned on the account, and all of the checks that you have deposited to your account. The debits are the items that you subtract and the credits are the items that you add to your account.

Please let me know if you need any clarification or further assistance, I would be happy to help! I provide original writing with accurate details, contact me if you need any other assistance with your academic success!

UT Austin

Anonymous
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