In the month of November, Metlock Storage Company Inc. wrote checks in the amount of $44400. In December, checks in the amount of $60758 were written. In November, $40646 of these checks were presented to the bank for payment and $52238 in December. What is the amount of outstanding checks at the end of December assuming that there were no checks outstanding on October 31? $12274. $17040 $3754. Ⓒ$8520.

In the month of November, Metlock Storage Company Inc. wrote checks in the amount of $44400. In December, checks in the amount of $60758 were written. In November, $40646 of these checks were presented to the bank for payment and $52238 in December. What is the amount of outstanding checks at the end of December assuming that there were no checks outstanding on October 31? $12274. $17040 $3754. Ⓒ$8520.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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