Fitzgerald Company wrote checks totaling $34,160 during October and $37,300 during November.$32,480 of these checks cleared the bank in October, and $36,440 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 November ($37,300) to the outstanding checks from October ($34,160 - $32,480 = $1,680) and then subtracting the checks that cleared in November ($36,440). This results in $1,680 + $37,300 - $36,440 = $2,540.

Fitzgerald Company Wrote Checks Totaling $34,160 During October and $37,300