Refer to the Accompanying Balance Sheet for the First National

question 22

Multiple Choice

Refer to the accompanying balance sheet for the First National Bank. Assume the reserve ratio is 15 percent. If a check for $20,000 is drawn and cleared against this bank, it will then have excess reserves of

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

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