Question

Harris Company had checks outstanding totaling $15,400 on its May bank reconciliation. In June, Harris Company issued checks totaling $64,900. The June bank statement shows that $37,600 in checks cleared the bank in June. A check from one of Harris Company's customers in the amount of $300 was also returned marked "NSF."
The amount of outstanding checks on Harris Company's June bank reconciliation should be ____.

Answer 1

Answer:

$42,700

Explanation:

The presentation of bank reconciliation is shown below:-

Check outstanding in June beginning     $15,400

Add: Check issued                                     $64,900

Total check to be cleared                          $80,300

Less: Check cleared                                     $37,600

The Outstanding amount of checks issued $42,700