Question

Decide whether each situation is a checking account deposit or debit. Drag each situation to correct category.

Answer 1

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.