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What was the result of John overdrawing his checking account? O John's payment was greater than the balance he had available in his account so the bank will deposit $237.81 into John's account so he can pay his bills. O John's payment was greater than the balance he had available in his account so he was charged a $5 fee. John's payment was greater than the balance he had available in his account so he was charged a $5 monthly maintenance fee. O John's payment was greater than the balance he had available in his account so the bank will transfer $35 from a linked account.

What was the result of John overdrawing his checking account? O John's payment was greater than the balance he had available in his account so the bank will deposit $237.81 into John's account so he can pay his bills. O John's payment was greater than the balance he had available in his account so he was charged a $5 fee. John's payment was greater than the balance he had available in his account so he was charged a $5 monthly maintenance fee. O John's payment was greater than the balance he had available in his account so the bank will transfer $35 from a linked account.

FINANCIAL ACCOUNTING
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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$ FIRST BANK OF WIKI 1425 JAMES ST, PO BOX 4000 VICTORIA BC V8X 3X4 1-800-555-5555 JOHN JONES 1643 DUNDAS ST W APT 27 TORONTO ON M6K 1V2 Date 2003-10-08 Previous balance 2003-10-14 Payroll Deposit - HOTEL 2003-10-14 Web Bill Payment - MASTERCARD 2003-10-16 ATM Withdrawal - INTERAC 2003-10-16 Fees - Interac 2003-10-20 2003-10-21 2003-10-22 2003-10-23 Description Interac Purchase - ELECTRONICS Web Bill Payment - AMEX ATM Withdrawal - FIRST BANK Interac Purchase - SUPERMARKET Interac Refund - ELECTRONICS 2003-10-24 2003-10-27 Telephone Bill Payment - VISA 2003-10-28 Payroll Deposit - HOTEL 2003-10-30 Web Funds Transfer - From SAVINGS 2003-11-03 Pre-Auth. Payment - INSURANCE 2003-11-03 Cheque No.-409 2003-11-06 Mortgage Payment Fees-Overdraft 2003-11-07 2003-11-08 Fees - Monthly *** Totals *** 9685 3990 Ref. Withdrawals 1975 3314 0064 1559 1975 2475 CHEQUING ACCOUNT STATEMENT Page: 1 of 1 2620 Statement period 2003-10-09 to 2003-11-08 200.00 21.25 1.50 2.99 300.00 100.00 29.08 6.77 33.55 100.00 710.49 5.00 5.00 1,515.63 Deposits 694.81 2.99 694.81 50.00 1,442.61 Account No. 00005- 123-456-7 Balance 0.55 695.36 495.36 474.11 472.61 469.62 169.62 69.62 40.54 43.53 36.76 731.57 781.57 748.02 648.02 -62.47 -67.47 -72.47
Transcribed Image Text:$ FIRST BANK OF WIKI 1425 JAMES ST, PO BOX 4000 VICTORIA BC V8X 3X4 1-800-555-5555 JOHN JONES 1643 DUNDAS ST W APT 27 TORONTO ON M6K 1V2 Date 2003-10-08 Previous balance 2003-10-14 Payroll Deposit - HOTEL 2003-10-14 Web Bill Payment - MASTERCARD 2003-10-16 ATM Withdrawal - INTERAC 2003-10-16 Fees - Interac 2003-10-20 2003-10-21 2003-10-22 2003-10-23 Description Interac Purchase - ELECTRONICS Web Bill Payment - AMEX ATM Withdrawal - FIRST BANK Interac Purchase - SUPERMARKET Interac Refund - ELECTRONICS 2003-10-24 2003-10-27 Telephone Bill Payment - VISA 2003-10-28 Payroll Deposit - HOTEL 2003-10-30 Web Funds Transfer - From SAVINGS 2003-11-03 Pre-Auth. Payment - INSURANCE 2003-11-03 Cheque No.-409 2003-11-06 Mortgage Payment Fees-Overdraft 2003-11-07 2003-11-08 Fees - Monthly *** Totals *** 9685 3990 Ref. Withdrawals 1975 3314 0064 1559 1975 2475 CHEQUING ACCOUNT STATEMENT Page: 1 of 1 2620 Statement period 2003-10-09 to 2003-11-08 200.00 21.25 1.50 2.99 300.00 100.00 29.08 6.77 33.55 100.00 710.49 5.00 5.00 1,515.63 Deposits 694.81 2.99 694.81 50.00 1,442.61 Account No. 00005- 123-456-7 Balance 0.55 695.36 495.36 474.11 472.61 469.62 169.62 69.62 40.54 43.53 36.76 731.57 781.57 748.02 648.02 -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 his account so the bank will deposit $237.81 into John's account so he can pay his bills. John's payment was greater than the balance he had available in his account so he was charged a $5 fee. O John's payment was greater than the balance he had available in his account so he was charged a $5 monthly maintenance fee. O John's payment was greater than the balance he had available in his account so the bank will transfer $35 from a linked account.
Transcribed Image Text:What was the result of John overdrawing his checking account? O John's payment was greater than the balance he had available in his account so the bank will deposit $237.81 into John's account so he can pay his bills. John's payment was greater than the balance he had available in his account so he was charged a $5 fee. O John's payment was greater than the balance he had available in his account so he was charged a $5 monthly maintenance fee. O John's payment was greater than the balance he had available in his account so the bank will transfer $35 from a linked account.
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