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

Question

Quizplus · Accepted Answer

To find the amount of outstanding checks at the end of December, we need to subtract the total checks presented for payment from the total amount of checks written. 
Total checks written in November and December = $27,750 + $37,974 = $65,724 
Total checks presented in November and December = $25,404 + $32,649 = $58,053 
Therefore, outstanding checks at the end of December = $65,724 - $58,053 = $7,671. 
Hence, the correct answer is C.

In the Month of November, Kinsey Company Inc