To determine where Michael should record the transfer of [tex]$198.16 in his check register, we need to understand how such transactions are typically categorized.
A check register is used to keep track of all transactions involving a checking account. It includes sections for payments, deposits, fees, balances, and check numbers. Since Michael electronically transferred money from his checking account, this action involves a reduction in his account balance.
### Step-by-Step Solution:
1. Identify the Nature of the Transaction:
Michael transferred $[/tex]198.16 to Paloma's checking account. This transfer decreases the balance in Michael's account because it's an outgoing payment.
2. Classify the Transaction Type:
- Deposit/Credit: This section is for amounts added to the account. Since Michael is transferring out money, this does not apply.
- Payment/Debit: This section is for amounts deducted from the account. Since Michael's balance is reduced by [tex]$198.16, this is the correct category.
- Fee: This is for bank fees or service charges. The transfer amount does not represent a fee.
- Balance: This section shows the account balance after transactions are recorded. This is not where individual transactions like this are listed.
- Check Number: Used to record the number of the check when the transaction involves writing a check. This transaction does not involve a check.
3. Determine Correct Column for Recording:
Given that the $[/tex]198.16 transfer is an outgoing payment from Michael's account, it should be recorded as a Payment/Debit.
Based on this analysis, Michael should record the amount of $198.16 in the Payment/Debit column.
So, the correct answer is:
B. Payment/Debit
