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

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

By adding back the recorded price of the new chair $161.55 to the balance $682.87, Katie gets $844.42. Subtracting the real cost of the chair which was $137.32, it yields $707.10, which matches Katie's ending balance.

Answer 2

c is the correct answer