and ends UD overdrawing on her account, AI the end of every two weeks. sheRachelle loves using her debit card! She often forgets to balance her checkbooDEBIT CARD TRANSACTIONS2/1 Groceries = $42.502/1 Gas = $77.852/2 Rent = $1,1802/5 Paycheck = $1,1002/5 Dinner out = $48.80Collects all her receipts and sits down to determine her balance.DateDebit/CreditBalance2/6 Groceries = $140.922/7 Clothing = $240.762/7 Drug Store = $15.322/8 Refund = $12.432/8 New Shoes = $84.232/8 Groceries = $115.662/10 Gas = $40.022/11 Movies = $26.242/11 Dinner out = $92.632/12 Paycheck = $1,1002/12 Groceries = $55.782/13 Gas = $34.292/14 Flower Shop = $302/14 Refund = $52.70$1,234.,802/14 New Clothes = $93-h Did Rachelle ever drop below $0 in heraccount? Explain whether this is possible in realsituations.2 Explain why it is important to keep track of yourexpenses.3 Whenever Rachelle's balance drops below $0,she is charged a $35 insufficient funds fee. Whatwould her new ending balance be when this feeis included for each occurrence?14register. Her starting balance was only $834.80instead of $1,234.80. Does this change thenumber of times she is charged an insufficientfunds fee? Explain.Rachelle made a mistake on her transaction

Working note on Rachelle's Debit card statement bills: DESCRIBTION DATE DEBIT/CREDIT BALANCE…

-h Did Rachelle ever drop below $0 in her account? Explain whether this is possible in real situations. 2 Explain why it is important to keep track of your expenses. 13 Whenever Rachelle's balance drops below $0, she is charged a $35 insufficient funds fee. What would her new ending balance be when this fee is included for each occurrence? E Rachelle made a mistake on her transaction register. Her starting balance was only $834.80 instead of $1,234.80. Does this change the number of times she is charged an insufficient funds fee? Explain.

-h Did Rachelle ever drop below $0 in her account? Explain whether this is possible in real situations. 2 Explain why it is important to keep track of your expenses. 13 Whenever Rachelle's balance drops below $0, she is charged a $35 insufficient funds fee. What would her new ending balance be when this fee is included for each occurrence? E Rachelle made a mistake on her transaction register. Her starting balance was only $834.80 instead of $1,234.80. Does this change the number of times she is charged an insufficient funds fee? Explain.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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