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27 September, 19:40

Decide whether each situation is a checking account deposit or debit. Drag each situation to correct category.

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  1. 27 September, 22:59
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    The question is incomplete:

    Decide whether each situation is a checking account deposit or debit. Drag each situation to correct category.

    -banking a $100 gift check

    -paying a utility bill online

    -receiving an eft of wages earned

    -writing a check for groceries

    -taking $40 out of an atm

    Answer:

    -banking a $100 gift check : deposit

    -paying a utility bill online : debit

    -receiving an eft of wages earned : deposit

    -writing a check for groceries : debit

    -taking $40 out of an atm: debit

    Explanation:

    A checking account is a bank account in which you can deposit or withdraw money. A checking account deposit is when you transfer money into the bank account and a debit is when the money is taken out of the account. According to this, the answer is:

    -banking a $100 gift check : deposit because you are adding funds to the account

    -paying a utility bill online : debit because by paying the bill you decrease the amount in the account.

    -receiving an eft of wages earned : deposit because this increases your balance.

    -writing a check for groceries : debit because the amount paid decreases the balance of the account.

    -taking $40 out of an atm: debit because this decreases the balance of the account.
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