Bishop Company wrote checks totaling $51240 during October (its first month of operations) and $55950 during November.$48720 of these checks cleared the bank in October and $54660 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 taking the total checks written in October and November and subtracting the checks that cleared in those months: ($51240 + $55950) - ($48720 + $54660) = $3810.

Bishop Company Wrote Checks Totaling $51240 During October (Its First