Cheyenne Corp. wrote checks totaling $33820 during October and $36928 during November. $32160 of these checks cleared the bank in October, and $36075 cleared the bank in November. What was the amount of outstanding checks on November 30?

Amount of outstanding checks on November 30 = $2,513

Explanation:

GIVEN the following ;

October check total = $33,820

November check total = $36,928

October cleared checks = $32,160

November cleared checks = $36,075

To calculate amount of outstanding cheques:

Total checks issued :

$(33,820 + 36,928) = $70,748

Total checks cleared :

$(32,160 + 36,075) = $68,235

Outstanding checks:

(Total checks issued - total cleared checks)

$70,748 - $68,235 = $2,513

Outstanding checks may be reffered to as checks which have been sanctioned or issued by the payor ( account owner) but yet to be cleared or cashed by the individual or institution to which the check was addressed.

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