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In the month of May, Jansen Company Inc.wrote checks in the amount of $19,550.In the June, checks in the amount of $17,500 were written.In May, $18,500 of these checks were presented to the bank for payment, and $16,000 in June.
-What is the amount of outstanding checks at the end of June?

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Use the following information to answer questions 
In the month of May, Jansen Company Inc.wrote checks in the amount of $19,550.In the June, checks in the amount of $17,500 were written.In May, $18,500 of these checks were presented to the bank for payment, and $16,000 in June.
-What is the amount of outstanding checks at the end of June?

Quizplus · Accepted Answer

The outstanding checks at the end of June are calculated by adding the checks written in May and June and subtracting the checks presented in both months: ($19,550 + $17,500) - ($18,500 + $16,000) = $2,550.

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