Lackey Company wrote checks totaling $38430 during October (its first month of operations) and $41964 during November.$36540 of these checks cleared the bank in October and $40995 cleared the bank in November.What was the amount of outstanding checks on November 30?

Question

Quizplus · Accepted Answer

The outstanding checks on November 30 are calculated by adding the checks written in October and November, then subtracting the checks that cleared in October and November: ($38430 + $41964) - ($36540 + $40995) = $2859.

Lackey Company Wrote Checks Totaling $38430 During October (Its First