Question

banking: quiz 2
all bank transactions can be split into two categories: credits and debits.
look at the statement below:
premier bank account 776655443
date transaction description amount balance
06/01 beginning balance $600.00
06/05 ach - greenenergy electric -$65.00 $535.00
06/12 direct deposit - apexcode payroll $1,200.00 $1,735.00
06/18 debit card - coffee corner purchase -$30.00 $1,705.00
06/22 online transfer - jackson auto loan -$250.00 $1,455.00
06/28 reimbursement - healthcare expense $125.00 $1,580.00
how many of the transactions are debits?
choose 1 answer:
a 0
b 2
c 3
d 5

Explanation:

Step1: Identify debit transactions

Debit transactions are those with a negative amount (since they decrease the balance). Let's check each transaction:

• 06/05: ACH - GreenEnergy Electric: $-65.00$ (debit)
• 06/12: Direct Deposit - ApexCode payroll: $1,200.00$ (credit, positive)
• 06/18: Debit Card - Coffee Corner purchase: $-30.00$ (debit)
• 06/22: Online Transfer - Jackson Auto Loan: $-250.00$ (debit)
• 06/28: Reimbursement - healthcare expense: $125.00$ (credit, positive)
• 06/01: Beginning balance (not a transaction, just starting balance)

Step2: Count debit transactions

Now count the debit transactions: 06/05, 06/18, 06/22. That's 3 transactions.

Answer:

C. 3