In the month of November, Coler Company Inc. wrote checks in the amount of $9,250. In December, checks in the amount of $12,658 were written. In November, $8,468 of these checks were presented to the bank for payment, and $10,883 were presented in December. What is the amount of outstanding checks at the end of December?
A) $1,775
B) $782
C) $2,557
D) $3,550

Question

Quizplus · Accepted Answer

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

Checks written in November = $9,250
Checks written in December = $12,658
Checks presented in November = $8,468
Checks presented in December = $10,883

Total checks written = $9,250 + $12,658 = $21,908
Total checks presented = $8,468 + $10,883 = $19,351

Outstanding checks = Total checks written - Total checks presented
Outstanding checks = $21,908 - $19,351
Outstanding checks = $2,557

Therefore, the amount of outstanding checks at the end of December is $2,557, which is answer choice C.

In the Month of November, Coler Company Inc