Fly-By-Night Airlines currently has $2.4 million on deposit with its bank. It also has a book balance of $2.4 million. What will be its bank and book balances as soon as it writes a check for $1.1 million to pay its fuel bill?
A) $2.4 million; $1.3 million
B) $2.4 million; $2.4 million
C) $1.3 million; $2.4 million
D) $1.3 million; $1.3 million
E) $1.85 million; $1.85 million
A) $2.4 million; $1.3 million
Explanation: Bank cash = $2.4 ? 0.0
Bank cash = $2.4 million
Book cash = $2.4 ? 1.1
Book cash = $1.3 million
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