Required: Analyze the transactions and identify it as:

 (1) Inward Clearing Checks 

(2) Over the Counter Checks 

(3) Fund Transfer

(4) Withdrawals

5) DM and

(6) CM. Provide a brief explanation of each transaction.

Transcribed Image Text:

231 Valley Farms Street FIRST Santa Monica, CA 90403 CITIZENS firstcitizensbank@domain.com BANK Account Number: Statement Date: Period Covered: 111-234-567-890 11/30/2022 11/01/2022 to 11/30/2022 John Smith 2450 Courage St, STE 108 Brownsville, TX 78521 Transactions Date 11/01/2022 Payment - Credit Card 11/03/2022 Payment Insurance 11/05/2022 Account Transfer in 11/08/2022 Cheque Deposit Description 11/15/2022 Payment - Electricity Auto-Debit 11/16/2022 Payment - Water Utility Auto-Debit 11/17/2022 Payment - Car Loan Auto-Debit 11/18/2022 Account Transfer Out 11/19/2022 Inward clearing check - BDO Bank Service Charge 11/30/2022 --- End of Transactions... Credit Number of Transactions: STATEMENT OF ACCOUNT Opening Balance: 175,800.00 Total Credit Amount: 510,100.00 Total Debit Amount: 104,000.00 Closing Balance: 581,900.00 Account Type: Current Account 10 500,000.00 10,000.00 100.00 Debit 5,400.00 3,000.00 Page 1 of 1 1,500.00 600.00 3,500.00 80,000.00 10,000.00 Balance 170,400.00 167,400.00 667,400.00 677,400.00 675,900.00 675,300.00 671,800.00 591,800.00 581,800.00 581,900.00 231 Valley Farms Street FIRST Santa Monica, CA 90403 CITIZENS firstcitizensbank@domain.com BANK Account Number: Statement Date: Period Covered: 111-234-567-890 11/30/2022 11/01/2022 to 11/30/2022 John Smith 2450 Courage St, STE 108 Brownsville, TX 78521 Transactions Date 11/01/2022 Payment - Credit Card 11/03/2022 Payment Insurance 11/05/2022 Account Transfer in 11/08/2022 Cheque Deposit Description 11/15/2022 Payment - Electricity Auto-Debit 11/16/2022 Payment - Water Utility Auto-Debit 11/17/2022 Payment - Car Loan Auto-Debit 11/18/2022 Account Transfer Out 11/19/2022 Inward clearing check - BDO Bank Service Charge 11/30/2022 --- End of Transactions... Credit Number of Transactions: STATEMENT OF ACCOUNT Opening Balance: 175,800.00 Total Credit Amount: 510,100.00 Total Debit Amount: 104,000.00 Closing Balance: 581,900.00 Account Type: Current Account 10 500,000.00 10,000.00 100.00 Debit 5,400.00 3,000.00 Page 1 of 1 1,500.00 600.00 3,500.00 80,000.00 10,000.00 Balance 170,400.00 167,400.00 667,400.00 677,400.00 675,900.00 675,300.00 671,800.00 591,800.00 581,800.00 581,900.00

Answer rating: 100% (QA)

Analysis of transactions 1 11012022 PaymentCredit Card Withdrawals payments made 2 11012022 Payment Insurance Withdrawals 3 11032022 Account Transfer ... View the full answer