The question is incomplete:
Decide whether each situation is a checking account deposit or debit. Drag each situation to correct category.
-banking a $100 gift check
-paying a utility bill online
-receiving an eft of wages earned
-writing a check for groceries
-taking $40 out of an atm
Answer:
-banking a $100 gift check
: deposit
-paying a utility bill online
: debit
-receiving an eft of wages earned
: deposit
-writing a check for groceries
: debit
-taking $40 out of an atm: debit
Explanation:
A checking account is a bank account in which you can deposit or withdraw money. A checking account deposit is when you transfer money into the bank account and a debit is when the money is taken out of the account. According to this, the answer is:
-banking a $100 gift check
: deposit because you are adding funds to the account
-paying a utility bill online
: debit because by paying the bill you decrease the amount in the account.
-receiving an eft of wages earned
: deposit because this increases your balance.
-writing a check for groceries
: debit because the amount paid decreases the balance of the account.
-taking $40 out of an atm: debit because this decreases the balance of the account.
