Question

In the month of November Pharoah Company wrote checks in the amount of $68800. In December, checks in the amount of $94176 were written. In November, $63002 of these checks were presented to the bank for payment, and $80970 in December. What is the amount of outstanding checks at the end of December?

Answer 1

$145,008

Step-by-step explanation:

Outstanding checks at the end of November = $68,800 + $63,002 = $131,802

Outstanding checks at the end of December = $131,802 + $94,176 - $80,970 = $145,008

Therefore, the amount of outstanding checks at the end of December is $145,008.