In the month of November, Coler Company wrote checks in the amount of $27,750. In December, checks in the amount of $37,974 were written. In November, $25,404 of these checks were presented to the bank for payment, and $32,649 were presented in December. What is the amount of outstanding checks at the end of December?
A) $5,325
B) $2,346
C) $7,671
D) $10,650

Question

Quizplus · Accepted Answer

To find the outstanding checks, we need to subtract the checks that have already been presented for payment from the total amount of checks written.

For November: 
Total amount of checks written = $27,750 
Amount of checks presented for payment = $25,404 
Outstanding checks = $27,750 - $25,404 = $2,346

For December: 
Total amount of checks written = $37,974 
Amount of checks presented for payment = $32,649 
Outstanding checks = $37,974 - $32,649 = $5,325

Therefore, the total amount of outstanding checks at the end of December is:

$2,346 + $5,325 = $7,671

So, the best choice is C.

In the Month of November, Coler Company Wrote Checks in the Amount