Question

During the current month, the Acme company had receivables of $16,590. It also had outgoing expenditures of $12,730. The company incurred a bank charge of $12.50 for a wire transfer, and the bank paid them interest of $2.37. How much should its balance have changed during this month?

Answer 1

Answer:

$3,849.87

Explanation:

The change in balance is the net of the receipts and the payments.

The receipts include the receivables and the interest paid by the bank while the payments include the outgoing expenditure and bank charge.

Balance change

= $16,590 - $12,730 -$12.50 + $2.37

= $3,849.87