in the month of May, Kayak Company Inc. wrote checks in the amount of $81,000. In June, checks in the amount of $112,000 were written. In May, $77,000 of these checks were presented to the bank for payment, and $96,000 in June. What is the amount of outstanding checks at the end of May? Select one: a. $4,000 b. The answer does not exist C. $14,006 d. $36,00 e. $12,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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In the month of May, Kayak Company Inc. wrote checks in the amount of $81,000. In June,
checks in the amount of $112,000 were written. In May, $77,000 of these checks were presented
to the bank for payment, and $96,000 in June. What is the amount of outstanding checks at the
end of May?
Select one:
a. $4,000
b. The answer does not exist
C. $14,006
d. $36,00
e. $12,000
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Transcribed Image Text:In the month of May, Kayak Company Inc. wrote checks in the amount of $81,000. In June, checks in the amount of $112,000 were written. In May, $77,000 of these checks were presented to the bank for payment, and $96,000 in June. What is the amount of outstanding checks at the end of May? Select one: a. $4,000 b. The answer does not exist C. $14,006 d. $36,00 e. $12,000 Previous page Next page
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