In the month of May, Jansen Company wrote checks in the amount of $39,100. In the June, checks in the amount of $35,000 were written. In May, $37,000 of these checks were presented to the bank for payment, and $32,000 in June. What is the amount of outstanding checks at the end of June?
A) CHF5,100.
B) CHF3,100.
C) CHF3,000.
D) CHF2,100.

Question

Quizplus · Accepted Answer

At the end of June, the outstanding checks are those written but not yet presented for payment. In May, $39,100 were written and $37,000 were presented, leaving $2,100 outstanding. In June, $35,000 were written and $32,000 were presented, leaving $3,000 outstanding. Therefore, the total outstanding checks at the end of June is $2,100 + $3,000 = $5,100.

In the Month of May, Jansen Company Wrote Checks in the Amount