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Hi im going to need some help! The bank has a 10% reserve requirement. Record each transaction in the category it belongs in. Carry forward

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Hi im going to need some help!

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The bank has a 10% reserve requirement. Record each transaction in the category it belongs in. Carry forward the information from the previous transaction. The categories you will use are those included below. 1. Eli has $5000 in cash and decides that he needs to open a checking account at Main Street Bank. ASSETS LIABILITIES Required Reserves Checkable Deposits Excess Reserves Loans 2. Melanie's Furniture Mart seeks a loan from Main Street Bank. The bank loans Melanie the maximum amount they can loan out. ASSETS LIABILITIES Required Reserves Checkable Deposits Excess Reserves Loans 3. Melanie deposits the money she borrowed into her account at Main Street Bank. ASSETS LIABILITIES Required Reserves Checkable Deposits Excess Reserves Loans 4. Sean wants to buy new living room furniture for his home. Main Street Bank loans Sean the maximum amount it can loan out. ASSETS LIABILITIES Required Reserves Checkable Deposits Excess Reserves Loans 5. Sean buys the furniture from Melanie's Furniture Mart and Melanie deposits the money in her account at Main Street Bank ASSETS LIABILITIES Required Reserves Checkable Deposits Excess Reserves Loans 6. How much has the bank created with these transactions? 7. What is the maximum amount the bank can create

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