Metis a university student who has been unable, so far, to find a summer job. While she has enough money to pay for school next year, she is concerned that she isn’t managing her money as well as she could. She decides to monitor her spending for the next month to get an idea of where her money is going. She buys a small notebook and writes down the amount spent and the purpose of the spending. Mei’s summary of her spending for July is shown below:

Required:
Prepare a statement that organizes the information from the month’s spending in a useful way. Explain why you organized the information the way that you did. How could you use the information if you were Mei?

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Date Amount July 4 2.00 July 4 160.00 July 4 -15.75 Purpose Starting balance (cash in purse) Cash from ATM Partying with friends July 6 -67.80 Clothes July 6 -8.25 Lunch July 10 -22.50 Novel July 11 -8.50 Movie July 12 60.00 July 12 -38.25 July 15 -22.45 July 17 -3.00 Cash from ATM Software Gift for Mom's birthday Coffee with friends July 19 80.00 Cash from ATM July 19 -24.00 Drinks for party July 20 -8.75 Snacks July 20 -12.00 Taxi July 20 -35.00 Monthly Internet access fee July 21 -23.00 July 21 100.00 July 24 40.00 July 24 -20.00 July 27 -125.00 July 31 7.75 Cosmetics Borrowed from Mom Cash from ATM Tennis lesson Deposit for university courses in fall Amount remaining in purse