In the month of May, Kijak Company Inc. wrote checks in the amount of $84,000. In June, checks in the amount of $114,000 were written. In May, $75,000 of these checks were presented to the bank for payment, and $99,000 in June. What is the amount of outstanding checks at the end of May?
A) $9,000
B) $15,000
C) $24,000
D) $30,000

Question

Quizplus · Accepted Answer

The outstanding checks at the end of May are the checks written in May that have not yet been presented for payment. Kijak Company wrote checks totaling $84,000 in May, and $75,000 of these were presented for payment. Therefore, the outstanding checks at the end of May are $84,000 - $75,000 = $9,000.

In the Month of May, Kijak Company Inc