In the month of May, Lopat Company Inc. wrote checks in the amount of $46,250. In June, checks in the amount of $63,290 were written. In May, $42,340 of these checks were presented to the bank for payment, and $54,415 in June. What is the amount of outstanding checks at the end of June?
A) $8,875.
B) $3,910.
C) $12,785.
D) $17,750.

Question

Quizplus · Accepted Answer

The outstanding checks at the end of June are calculated by adding the checks written in May and June, then subtracting the checks presented in May and June: ($46,250 + $63,290) - ($42,340 + $54,415) = $12,785.

In the Month of May, Lopat Company Inc