Question

Katie keeps a record of her transactions in a notebook. Looking over her records for the past two weeks, Katie finds that her bank statement does not match her notebook, and she actually has more money than she thought she did. These are the relevant entries in Katie’s notebook: Transaction Debit ($) Credit ($) Beginning Balance 889.23 Fence repair 75.86 --- Dry cleaning 32.38 --- Paycheck --- 140.91 Gift from cousin --- 35.00 Car payment 178.66 --- Tax refund --- 66.18 New chair 161.55 --- Ending Balance 682.87 However, Katie’s bank statement says that her ending balance is $707.10. Which of the following is a possible explanation for the discrepancy? a. Katie’s neighbor paid for half of the fence repair, which Katie forgot to record. b. Katie transposed the digits in the cost of the dry cleaning, which actually cost $23.38. c. Katie’s new chair was on sale for 15% off, making it cost $137.32, but Katie wrote down the before-sale price. d. Katie’s tax refund came in two equal-sized checks, but Katie only recorded one of them.

Answer 1

C: Katie’s new chair was on sale for 15% off, making it cost $137.32, but Katie wrote down the before-sale price.

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Answer 2

Answer:

Option c.

Step-by-step explanation:

In Katie's notebook her ending balance was $682.87

Her bank statement says that her ending balance is $707.10.

The difference in the balance of both records = 707.10 - 682.87 = $24.23

We will go through all the options to get where Katie debited $24.23 more.

Option a. If Katie's neighbor paid for half of the fence repair (75.86/2) the difference would be of $37.93. Not correct

Option b. Katie transposed the digits in the cost of the dry cleaning (32.38 - 23.38) the difference would be of $8.90 Not correct

Option c. Katie's new chair was on sale for 15% off, the actual cost of the chair was $137.32 but Katie debited $161.55 in her notebook.

The difference between the cost = 161.55 - 137.32 = $24.23 Correct option

Option c. is the correct option.