look at the table below showing an example of a checkbook ledger. check number date description amount…

look at the table below showing an example of a checkbook ledger. check number date description amount debited amount credited balance 5/7 atm $2.00 $60.00 $378.00 242 5/7 grocery $32.50 $345.50 5/8 paycheck $1,200.00 $1,545.50 adrienne has several receipts from recent transactions that she entered in her records. the receipts include an atm receipt for a $60.00 withdrawal (plus a $2.00 transaction fee), a grocery store receipt for $32.50, and a $1,200 paycheck deposit slip. when she finishes entering her transactions, adrienne realizes that her balance is incorrect. assuming that adriennes beginning account balance was $320.00, why is her balance incorrect? adrienne forgot to include the $2.00 atm transaction fee. adrienne did not use $320.00 as her starting balance. adrienne deducted $23.50 from her balance instead of $32.50. adrienne did not enter her atm withdrawal correctly.

look at the table below showing an example of a checkbook ledger. check number date description amount debited amount credited balance 5/7 atm $2.00 $60.00 $378.00 242 5/7 grocery $32.50 $345.50 5/8 paycheck $1,200.00 $1,545.50 adrienne has several receipts from recent transactions that she entered in her records. the receipts include an atm receipt for a $60.00 withdrawal (plus a $2.00 transaction fee), a grocery store receipt for $32.50, and a $1,200 paycheck deposit slip. when she finishes entering her transactions, adrienne realizes that her balance is incorrect. assuming that adriennes beginning account balance was $320.00, why is her balance incorrect? adrienne forgot to include the $2.00 atm transaction fee. adrienne did not use $320.00 as her starting balance. adrienne deducted $23.50 from her balance instead of $32.50. adrienne did not enter her atm withdrawal correctly.

Answer

Explanation:

Step1: Calculate correct balance

Starting balance is $320$. ATM withdrawal is $60$ and fee is $2$, so balance after ATM: $320 - 60 - 2=258$. After grocery ($32.50$ debit): $258 - 32.50 = 225.5$. After paycheck ($1200$ credit): $225.5+1200 = 1425.5$.

Step2: Analyze given balance

Given final balance is $1545.5$. The difference is due to incorrect calculation. The correct calculation should have accounted for the $2$ - dollar ATM fee.

Answer:

Adrienne forgot to include the $2.00$ ATM transaction fee.