In the month of May, Lopat Company Inc.wrote checks in the amount of $74,000.In June, checks in the amount of $101,264 were written.In May, $67,744 of these checks were presented to the bank for payment and $87,064 in June.What is the amount of outstanding checks at the end of May?
A)$14,200.
B)$6,256.
C)$20,456.
D)$28,400.

Question

Quizplus · Accepted Answer

The outstanding checks at the end of May are calculated by subtracting the checks presented in May from the checks written in May: $74,000 - $67,744 = $6,256.

In the Month of May, Lopat Company Inc