$FIRST BANK OF WIKI1425 JAMES ST, PO BOX 4000VICTORIA BC V8X 3X4 1-800-555-5555JOHN JONES1643 DUNDAS ST W APT 27TORONTO ON M6K 1V2Date2003-10-08 Previous balance2003-10-14 Payroll Deposit - HOTEL2003-10-14 Web Bill Payment - MASTERCARD2003-10-16 ATM Withdrawal - INTERAC2003-10-16Fees - Interac2003-10-202003-10-212003-10-222003-10-23DescriptionInterac Purchase - ELECTRONICSWeb Bill Payment - AMEXATM Withdrawal - FIRST BANKInterac Purchase - SUPERMARKETInterac Refund - ELECTRONICS2003-10-242003-10-27Telephone Bill Payment - VISA2003-10-28Payroll Deposit - HOTEL2003-10-30 Web Funds Transfer - From SAVINGS2003-11-03 Pre-Auth. Payment - INSURANCE2003-11-03Cheque No.-4092003-11-06Mortgage PaymentFees-Overdraft2003-11-072003-11-08Fees - Monthly*** Totals ***96853990Ref. Withdrawals197533140064155919752475CHEQUING ACCOUNT STATEMENTPage: 1 of 12620Statement period2003-10-09 to 2003-11-08200.0021.251.502.99300.00100.0029.086.7733.55100.00710.495.005.001,515.63Deposits694.812.99694.8150.001,442.61Account No.00005-123-456-7Balance0.55695.36495.36474.11472.61469.62169.6269.6240.5443.5336.76731.57781.57748.02648.02-62.47-67.47-72.47 What was the result of John overdrawing his checking account?O John's payment was greater than the balance he had available in hisaccount so the bank will deposit $237.81 into John's account so hecan pay his bills.John's payment was greater than the balance he had available in hisaccount so he was charged a $5 fee.O John's payment was greater than the balance he had available in hisaccount so he was charged a $5 monthly maintenance fee.O John's payment was greater than the balance he had available in hisaccount so the bank will transfer $35 from a linked account.

Overdraft is happen when someone withdraw more than balance amount from bank. Bank allow to withdraw…

Answered: What was the result of John overdrawing…

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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