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Illustrate and record the following events on a T account a. John deposits his $10,000 paycheck into his checking account at Chase Bank b. Chase
Illustrate and record the following events on a T account
a. John deposits his $10,000 paycheck into his checking account at Chase Bank
b. Chase Bank deposits the check at the Fed and Fed collects the funds for Chase Bank
c. What happens to a bank's reserves when it receives a deposit?
d. John withdraws $2000 cash and pays his rent. His landlord deposits the $2000 in Citi Bank
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