The cash records and the bank statement of Frankel Company showed the following at the end of February 2010:
Outstanding checks as of the beginning of February 2010,$8,000; checks written by Frankel Company according to their books during February 2010,$50,000; and checks cleared by the bank during February 2010,$54,000.How much were the outstanding checks at the end of February 2010?

Question

Quizplus · Accepted Answer

Outstanding checks at the end of February ($4,000) = Outstanding checks at the beginning of February ($8,000) + Checks written per the books during February ($50,000) - Checks clearing the bank during February ($54,000)

The Cash Records and the Bank Statement of Frankel Company