Rainey Company wrote checks totaling $8,540 during October and $9,325 during November. $8,120 of these checks cleared the bank in October, and $9,110 cleared the bank in November. What was the amount of outstanding checks on November 30?
A) $635
B) $115
C) $305
D) $990

Question

Quizplus · Accepted Answer

Outstanding checks = Checks written - Checks cleared= ($8,540 + $9,325) - ($8,120 + $9,110)= $17,865 - $17,230= $635

Rainey Company Wrote Checks Totaling $8,540 During October and $9,325