In the month of May Kayak Company Inc. wrote checks in the amount of $81000. In June checks in the amount of $112000 were written. In May $77000 of these checks were presented to the bank for payment and $96000 in June. What is the amount of outstanding checks at the end of May?
A) $4000
B) $16000
C) $19000
D) $31000

Question

Quizplus · Accepted Answer

Outstanding checks are those written by a company but not yet cleared by the bank. At the end of May, Kayak Company Inc. wrote checks totaling $81,000, but only $77,000 were presented to the bank for payment. Therefore, the amount of outstanding checks at the end of May is $81,000 - $77,000 = $4,000.

In the Month of May Kayak Company Inc