Question

You receive a paycheck from work on 7/8, take out some cash from an ATM on 7/12, and then put your birthday money in your checking account on 7/16. When you fill out the register, how many of these transactions will you enter as withdrawals, and how many will you enter as deposits?

Answer 1

You would enter one transaction as a withdrawal (taking cash out from the ATM on 7/12) and one transaction as a deposit (putting your birthday money in your checking account on 7/16). The paycheck you received on 7/8 would not be entered as a transaction in the register since it is already included in your account balance.