Question 37

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In the month of May, Kayak Company Inc. wrote checks in the amount of $65,0000. In June, checks in the amount of $67,000 were written. In May, $60,0000 of these checks were presented to the bank for payment, and $65,000 in June. What is the amount of outstanding checks at the end of June?

Select one:

a. $5,000

b. $2,000

c. $6,000

d. The answer does not exist

e. $1,000