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Answer the Question Based on the Following Balance Sheet for the First

Question 114

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Answer the question based on the following balance sheet for the First National Bank. Assume the reserve ratio is 15 percent: Answer the question based on the following balance sheet for the First National Bank. Assume the reserve ratio is 15 percent: Refer to the data above. If a check for $20,000 is drawn and cleared against this bank, it will then have excess reserves of: A) $15,000 B) $20,000 C) $25,000 D) $30,000 Refer to the data above. If a check for $20,000 is drawn and cleared against this bank, it will then have excess reserves of:


A) $15,000
B) $20,000
C) $25,000
D) $30,000

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