Assuming a $130 fee assessed by the bank for each bounced check, how much fee revenue would the bank generate if it processed checks (1) from largest to smallest, (2) from smallest to largest, and (3) in order of check number?
Assuming a $130 fee assessed by the bank for each bounced check, how much fee revenue would the bank generate if it processed checks (1) from largest to smallest, (2) from smallest to largest, and (3) in order of check number?
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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Question
![Carl Roen had a balance of $1,700 in his checking account at First National Bank on a day when the bank received the following five
checks for processing against his account.
Check
Number
Check
Amount
Number
Amount
3150
$135
3165
$750
3162
400
3166
1,710
3169
380
Assuming a $130 fee assessed by the bank for each bounced check, how much fee revenue would the bank generate if it processed
checks (1) from largest to smallest, (2) from smallest to largest, and (3) in order of check number?
Fee revenue
(1)
Largest to smallest
$
so
(2)
Smallest to largest
$
30
(3)
In order of check number
$
60](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc0ccb318-df14-4cf7-ba16-d37125861fc1%2Fcbee6bfd-99b4-4810-b880-742de6fd7325%2F6rwzrur_processed.png&w=3840&q=75)
Transcribed Image Text:Carl Roen had a balance of $1,700 in his checking account at First National Bank on a day when the bank received the following five
checks for processing against his account.
Check
Number
Check
Amount
Number
Amount
3150
$135
3165
$750
3162
400
3166
1,710
3169
380
Assuming a $130 fee assessed by the bank for each bounced check, how much fee revenue would the bank generate if it processed
checks (1) from largest to smallest, (2) from smallest to largest, and (3) in order of check number?
Fee revenue
(1)
Largest to smallest
$
so
(2)
Smallest to largest
$
30
(3)
In order of check number
$
60
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