look at the table below showing an example of a checkbook ledger. malcolm has several receipts from recent…

look at the table below showing an example of a checkbook ledger. malcolm has several receipts from recent transactions that he entered in his records. the receipts include an atm receipt for an $80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00. when he finishes entering his transactions, malcolm realizes that his balance is incorrect. assuming that malcolm had no beginning balance, what should his correct balance be? $624.50 $704.50 $755.50 $784.50

look at the table below showing an example of a checkbook ledger. malcolm has several receipts from recent transactions that he entered in his records. the receipts include an atm receipt for an $80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00. when he finishes entering his transactions, malcolm realizes that his balance is incorrect. assuming that malcolm had no beginning balance, what should his correct balance be? $624.50 $704.50 $755.50 $784.50

Answer

Explanation:

Step1: Identify income and expense amounts

Income: $80$ (ATM deposit), $650$ (paycheck). Expense: $25.50$ (grocery).

Step2: Calculate the total income

Total income = $80 + 650=730$.

Step3: Calculate the correct balance

Correct balance = Total income - Expense = $730 - 25.50 = 704.50$.

Answer:

$704.50$