Suppose that Lena, who has an account at SunTrust Bank, writes a check for $140to Jose, who has an account at National City Bank.Use following the T-account for SunTrust Bank to show how it is affected after the checkclears.AssetsLiabilities

Assets : Reserves = -$140Liabilities : Chekable deposits = -$140

Answered: Suppose that Lena, who has an account…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 4E

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Suppose that Lena, who has an account at SunTrust Bank, writes a check for $140 to Jose, who has an account at National City Bank. Use following the T-account for SunTrust Bank to show how it is affected after the check clears. Assets Liabilities