Checking AccountA checking account usually serves as the safest andthe easiest way for you to keep track of your money. Achecking account is a financial arrangement with abank, savings and loan association, or credit union forsafeguarding money. It provides a system that allowsyou to account for your money—both what you’vereceived and what you’ve spent. Money you receivemight be your paycheck, while money you expendmight be a bill you pay.Some terms that deal with checking accounts areshown below.Check. A check (fig. 17-2) is a written order telling yourbank to withdraw a sum of money from youraccount to pay another person or business.Check register. A check register is a booklet used torecord transactions involving your checkingaccount.Deposit ticket or deposit slip. A deposit ticket (fig. 17-3)is a slip of paper used to place money into youraccount. Deposits can be done either electronicallyor by you actually going to the bank, filling out adeposit ticket, and handing it to a teller.17-7Student Notes:Figure 17-2.—A check and check register.
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