The Following Balance Sheet Is for the First National Bank

question 153

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 $20,000 is drawn and cleared against this bank, it will have excess reserves of:

• A)$15,000
• B)$20,000
• C)$25,000
• D)$30,000

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