In the month of November Gavin Company Inc. wrote checks in the amount of $27,750. In December, checks in the amount of $37,974 were written. In November, $25,404 of these checks were presented to the bank for payment, and $32,649 in December. What is the amount of outstanding checks at the end of December?
A) $5,325.
B) $2,346.
C) $7,671.
D) $10,650.

Question

Quizplus · Accepted Answer

The outstanding checks at the end of December are calculated by adding the checks written in November and December, then subtracting the checks presented in November and December: ($27,750 + $37,974) - ($25,404 + $32,649) = $7,671.

In the Month of November Gavin Company Inc