Question
How does the following transaction enter into a privatebank's balancesheet? A customer of the bank writes a$750 check to herlanlord, who cashes the check the
How does the following transaction enter into a privatebank's balancesheet?
A customer of the bank writes a$750 check to herlanlord, who cashes the check the same day.
A.
+$750 inLong-term Investment,-$750 in Stockholders Equity
B.
-$750 inReserves, -$750 in Demand Deposits
C.
-$750 inReserves, +$750 in Long-term Investment
D.
-$750 in CashEquivalents, -$750 in Demand Deposits
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Principles Of Financial Accounting
Authors: John J Wild, Ken W Shaw, Barbara Chiappetta
22nd Edition
0077632893, 9780077632892
