Q3:

Joe Companys Checking account has a debit balance of $480 on its bank statement as of January 1, the bank statement for this account on January 31 shows interest charged of $11, service charges of $35, a check printing fee of $15, a collection of note on behalf of the company in amount of $100, the balance that should be on the companys bank statement as of January 31 is?

a.

Debit balance $441

b.

Credit balance $519

c.

Debit balance $641

d.

Debit balance $419