Carlos Martin received a statement from his bank showing a balance of $56.75 as of March 15th. His checkbook shows a balance of $87.37 as of March 20. The bank returned all cancelled checks but two. One check was for $5.00 and the other was for $13.25. How much did Carlos deposit in his account between March 15 and March 20?
5 + 13.25 = 18.25
56.75 - 18.25 = 38.5
87.37 - 38.50 = ?
48.87
is 48.87
To determine how much Carlos deposited in his account between March 15 and March 20, we need to calculate the difference between his checkbook balance on March 20 and his bank statement balance on March 15.
1. Start by subtracting the two canceled checks that were not returned by the bank. Subtract $5.00 for one check and $13.25 for the other check from the checkbook balance of $87.37:
$87.37 - $5.00 - $13.25 = $87.37 - $18.25 = $69.12
2. By comparing the remaining checkbook balance of $69.12 with the bank statement balance of $56.75, we can determine the amount Carlos deposited between March 15 and March 20. Subtract the bank statement balance from the checkbook balance:
$69.12 - $56.75 = $12.37
Therefore, Carlos deposited $12.37 in his account between March 15 and March 20.