The Deposit Is $450

question 24

Short Answer

The deposit is $450. The checkbook balance is $9,872.54. If one debit card transaction is completed on the account for $251.55, what is the balance in the account?

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Definitions:

Controls

Mechanisms or policies implemented to regulate processes and ensure the accuracy, reliability, and integrity of financial and operational information.

Clothing Store

A clothing store is a retail business establishment that specializes in selling garments and accessories to consumers.

FOB Destination

A shipping term indicating that the seller bears all costs and risks of loss until the goods are delivered to the buyer's specified location.

Ending Inventory

The total value of all inventory (goods available for sale) a company holds at the end of an accounting period.