When Martin deposits his weekly paycheck into his checking account, he needs to record this transaction in his check register. He should write the deposit amount in the "Deposits" column to reflect the increase in his account, and also update the "Balance" column to show the new total amount available in his account after the deposit.
Here is a detailed step-by-step solution on how he should fill out the register for this transaction:
1. Date Column: Enter the date when the deposit was made.
2. Description of Transaction: Write a description to indicate where the deposit came from, such as "Weekly Paycheck."
3. Deposits Column: Enter the amount of the paycheck in the "Deposits" column to reflect the incoming funds.
4. Balance Column: Add the deposited amount to the previous balance and write the new balance in the "Balance" column.
For example, if Martin's previous balance was [tex]$652.36 and he deposits a paycheck of $[/tex]500, the entries in the check register would be:
- Date: Enter the date (e.g., 10/01/2023).
- Description: Write "Weekly Paycheck."
- Deposits: Enter 500.00 in the "Deposits" column.
- Balance: Add 500.00 to 652.36 and enter 1152.36 in the "Balance" column.
This way, Martin accurately records his deposit and updates his account balance.
