The Following Balance Sheet Is for the First National Bank

question 3

Multiple Choice

The following balance sheet is for the First National Bank.Assume the desired reserve ratio is 15 percent. Refer to the above data.If a cheque for $14,000 is drawn and cleared against this bank, its reserves and demand deposits will be, respectively:

• A)$50,000 and $120,000.
• B)$50,000 and $106,000.
• C)$36,000 and $120,000.
• D)$36,000 and $106,000.

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