Refer to the Accompanying Balance Sheet for the First National

Multiple Choice

Refer to the accompanying balance sheet for the First National Bank. Assume the reserve ratio is 15 percent. If a check for $14,000 is drawn and cleared against this bank, then its reserves and checkable deposits will be

A) $50,000 and $120,000, respectively.
B) $50,000 and $106,000, respectively.
C) $36,000 and $120,000, respectively.
D) $36,000 and $106,000, respectively.