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 the 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 the March 15 and the March 20?
A. $48.87 B. $11.22 C. $125.87 D. $162.37
The answer is A
To determine how much Carlos deposited in his account between March 15th and March 20th, we need to calculate the difference between the checkbook balance and the bank statement balance.
The checkbook balance as of March 20th is $87.37, and the bank statement balance as of March 15th is $56.75.
To find the total deposits made during this time period, we need to subtract the check amounts that were not cancelled. One canceled check was for $5.00, and the other was for $13.25.
Therefore, we can calculate the deposits as follows:
Checkbook balance ($87.37) - Bank statement balance ($56.75) - Canceled check 1 ($5.00) - Canceled check 2 ($13.25) = Deposits
$87.37 - $56.75 - $5.00 - $13.25 = Deposits
$12.37 = Deposits
So, Carlos deposited $12.37 in his account between March 15th and March 20th.
The correct answer is not given among the options provided.