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Question

Rosie McFarland's check register bal ance on October 31 was $374.60. In making a reconciliation statement, she found that a check for$17 was incorrectly recorded in the register as $71; she had no record in her register of a service charge of$2.80, earned interest of $0.71, and a deposit of$68.74. What was her correct check register bal ance?

Solution

VerifiedStep 1

1 of 2$\$374.60-\$17-\$2.80+\$0.71+\$68.74+\$71=\$495.25$

The new balance is the previous balance decreased by the checks/charges and increased by the interest/deposit/wrongly recorded check amount.

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