When Jane Brown writes a $100 check to her nephew (who lives in another state),Ms.Brown's bank ________ assets of $100 and ________ liabilities of $100.

Question

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When Jane Brown writes a check, her bank loses $100 in assets because the money is being transferred out of her account, and it also loses $100 in liabilities because the bank's obligation to pay that amount to Jane is reduced.

When Jane Brown Writes a $100 Check to Her Nephew