Question

In the month of November, Swifty Company Inc. wrote checks in the amount of $27850. In December, checks in the amount of $37986 were written. In November, $25399 of these checks were presented to the bank for payment, and $32656 were presented in December. No checks were outstanding at November 1. What is the amount of outstanding checks at the end of December

Answer 1

$7,781

Step-by-step explanation:

The amount of check at the end of December is computed as;

= Checks written in November + Checks written in December - Checks presented in November for payments - Checks presented in December for payments

= $27,850 + $37,986 - $25,399 - $32,656

= $7,781