Chris Montgomery was concerned about his checking account. He had been laid off work during the pandemic and was relying on the stimulus checks to be able to pay bills. Chris's checkbook balance was a negative $1,352.37. His bank statement reflected a balance of $1,567.45. The Cares Act stimulus checks of $1,200 and $600 were not reflected in Chris's checkbook. The bank statement showed interest earned of $5.92 and a service charge of $15.00. An EFT for health insurance for $575 and notes collected of $272.90 were included. Outstanding checks were No. 367, $575; and No. 368, $856. Help Chris reconcile his bank statement and checkbook balance.

Answer rating: 100% (QA)

1 Calculate the adjusted checkbook balance Add the stimulus checks that are not refl... View the full answer