Your bank account currently shows a balance of $940. You now deposit $100 into the account and write a check for $40.
a. What is the ledger balance in your account?
b. What is the availability float?
c. What is payment float?
d. What is the bank’s ledger balance?
e. Show that your ledger balance plus payment float equals the bank’s ledger balance, which in turn equals the available balance plus availability float.