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

Question

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

Quizplus · Accepted Answer

The Answer of 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

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