In the month of May, Kijak Company Inc.wrote checks in the amount of $84,000.In June, checks in the amount of $114,000 were written.In May, $75,000 of these checks were
Presented to the bank for payment, and $99,000 in June.What is the amount of
Outstanding checks at the end of May?

Question

Quizplus · Accepted Answer

Outstanding checks at the end of May are the checks written in May that were not yet presented to the bank for payment. Since $84,000 in checks were written and $75,000 were presented, the outstanding checks amount to $84,000 - $75,000 = $9,000.

In the Month of May, Kijak Company Inc