Question

Tyler got a $140 income tax refund. The refund is sent to his checking account. Will this be

a deposit or a withdrawal when he enters the information into his check register? Explain.

Answer 1

Deposit because it is putting money into the account, not withdrawing it taking the money put.

Answer 2

This should be a deposit because it was put into the account. If the money were being taken from Tyler then it would be a withdrawal (but it is not being taken out of his bank account!) So the answer is a deposit. Let me know if this helped and if you need more explanation!