Lyle deposited a check for $75.26. He’ll use the check register to record his transaction. What will be his new balance?
2 answers:
<h2>Answer</h2>
$896.44
<h2>Explanation</h2>Remember that to get the current balance, you subtract all the debits from balance and add all the deposits to it.
We know from our table that the first transaction is medical bill, which is debit, so we are going to subtract the medical bill from the balance to find the balance at that point in time.
Balance = $862.74 - $41.56 = $821.18
We also know that the second transaction is a check deposit for $75.26, so to find the current balance, we just need to add $75.26 to our previous balance.
Current balance = $821.18 + $75.26 = $896.44
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