Question

In the month of November, Kinsey 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 were presented in December. What is the amount of outstanding checks at the end of December?

A) $2,346
B) $7,245
C) $7,671
D) $10,224

Answer 1

The correct answer is $5,325 (not one of the given options). The amount of outstanding checks at the end of December is $5,325.

Step-by-step explanation:

The amount of outstanding checks at the end of December can be calculated by subtracting the checks presented for payment in December from the checks written in December. So, the outstanding checks at the end of December can be calculated as:

$37,974 - $32,649 = $5,325

Therefore, the correct answer is $5,325 (not one of the given options).