Franco Company wrote checks totaling €18,545 during June and €19,325 during July.In June, €18,125 of these checks cleared the bank.In July, checks of €19,115 cleared the bank.What was the amount of outstanding checks at July 31?

Question

Quizplus · Accepted Answer

To find the amount of outstanding checks, we need to subtract the amount of cleared checks from the total checks written in each month.

For June: 
Total checks written = €18,545 
Cleared checks = €18,125 
Outstanding checks = €18,545 - €18,125 = €420

For July: 
Total checks written = €19,325 
Cleared checks = €19,115 
Outstanding checks = €19,325 - €19,115 = €210

To find the total outstanding checks at July 31, we need to add the outstanding checks from June and July: 
Total outstanding checks = €420 + €210 = €630

Therefore, the correct answer is choice C, €630.

Franco Company Wrote Checks Totaling €18,545 During June and €19,325