Question

In example 1,why is the minimum balance for august,september and october the balance of July 20 and not July 9.?

Answer 1

Hi!

Explanation to your query is as follows:

From July 20 to October 11 there is no transaction, so the final balance of July has been taken as the minimum balance for August and September. Also, October starts with the same balance that is less than the balance on October 11.

Cheers!