Question

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

Answer 1

650 + 80= 730 deposit
730 - 25.50 for groceries = 704.50

Answer 2

Answer:

$704.50

Explanation:

Malcolm has $650.00 from his payment. The case says that he has an ATM receipt for an $80.00 deposit. This means that the money entered to his account. So, it should be added to the paycheck deposit he has:

$650.00+$80.00= $730.00

Then, it says that he has a grocery store receipt for $25.50. This means that he made a purchase and this amount should be subtracted from the balance:

$730.00-$25.50= $704.50