Question

Mia's bank statement shows a closing balance of $75.65. There are no outstanding checks or deposits. Her checkbook shows a balance of $77.95. What might account for the different balances?

Answer 1

Monthly service fee of $2.30

Answer 2

Answer choices are:

A. Interest earned in the amount of $1.35

B. Monthly service fee $2.30

C. Transposing of numbers

D. None of the above

Correct answer choice is:

B. Monthly service fee $2.30

Step-by-step explanation:

Given data:

Closing balance = $75.65

Checkbook balance = $77.95

The difference in balances = Checkbook balance - Closing balance

The difference in balances = $77.95 - $75.65

The difference in balances = $2.30