Sylvan Company Wrote Checks Totaling $26,520 During October and $25,779

question 44

Multiple Choice

Sylvan Company wrote checks totaling $26,520 during October and $25,779 during November. Of these, $23,460 cleared the bank in October, and $26,330 cleared the bank in November. What was the amount of outstanding checks on November 30?

• A) $741
• B) $3,060
• C) $2,509
• D) $2,870

---

Definitions:

Purchases Journal

A record where a business notes all purchases of goods intended for resale or use in production, particularly on credit.

Revenue Journal

An accounting ledger detailing all income transactions for a business, used to track and manage sources of revenue.

General Journal

A comprehensive accounting record of all transactions, listed in chronological order.

Withdrawal of Cash

The act of taking money out from a business by the owners for personal use, not related to business expenses.