Bishop Company wrote checks totaling $34,160 during October and $37,300 during November. $32,480 of these checks cleared the bank in October, and $36,440 cleared the bank in November. What was the amount of outstanding checks on November 30?
A) $2,540.
B) $460.
C) $1,220.
D) $3,960.

Question

Quizplus · Accepted Answer

Outstanding checks = Checks written - Checks cleared= ($34,160 + $37,300) - ($32,480 + $36,440)= $71,460 - $68,920= $2,540

Bishop Company Wrote Checks Totaling $34,160 During October and $37,300