18.03.2023

Meredith started last week with $1,000 in her checking account. During the week, she wrote the checks below. On the 15th, Meredith received a paycheck for $492.15. She recorded all of these transactions in her check register. Trans typ./ Check no. Date Description of Transaction Payment/ Debit (-) Deposit/ Credit (+) Balance 1,000 00 301 7/14 Miller's Food Market 53.28 53 28 Groceries 946 72 Deposit 7/15 Paycheck 492.15 492 15 454 57 302 7/17 Kim's Dry Cleaning 14.85 14 85 Evening Gown cleaning 439 72 303 7/18 Sandra's Beauty Salon 35.00 35 00 Haircut and Styling 404 72 Evaluate Meredith's check register. A. Meredith did a good job; everything is correct. B. Meredith should have added the value of the paycheck. C. Meredith should have written debit instead of deposit for the transaction type. D. Meredith should have written the deposit after the checks, not in between them.

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18.10.2022, solved by verified expert
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Options:

A. Meredith did a good job; everything is correct.
B. Meredith should have added the value of the paycheck.
C. Meredith should have written debit instead of deposit for the transaction type.
D. Meredith should have written the deposit after the checks, not in between them.

Answer:

B. Meredith should have added the value of the paycheck.
 

Note:

Meredith correctly identified the paycheck as a deposit (+), but she subtracted it from her balance when she should have added it.

Transactions:

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Step-by-step answer
P Answered by PhD

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=(6/100)*1800

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Salesperson will make $108 in $1800 sales

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