Question

Sunland Company wrote checks totaling $36890 during October and $40285 during November. $35080 of these checks cleared the bank in October, and $39355 cleared the bank in November. What was the amount of outstanding checks on November 30?

Answer 1

Answer:

$2,740

Explanation:

The checks which have been issued by the business but, they have not been cleared or presented or deposited by the account for which it is issued.

Check Issued in October = $36,890

Check Issued in November = $40,285

Total Check issued in two months = $36,890 + $40,285 = $77,175

Total Checks Cleared in two months = $35,080 + $39,355 = $74475

Outstanding check on November 30 = $77,175 - $74,475 = $2,740