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A company's July 31 bank reconciliation reports outstanding checks of $2,100. The general ledger Cash in Bank account shows total cash disbursements of $62,500 during August. The August bank statement shows $60,900 of checks clearing the bank. What amount of outstanding checks should appear in the August 31 bank reconciliation?

A company's July 31 bank reconciliation reports outstanding checks of $2,100. The general ledger Cash in Bank account shows total cash disbursements of $62,500 during August. The August bank statement shows $60,900 of checks clearing the bank. What amount of outstanding checks should appear in the August 31 bank reconciliation?

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
Section: Chapter Questions
Problem 1COMP
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A company's July 31 bank reconciliation reports outstanding checks of $2,100. The general ledger Cash in Bank account shows total cash disbursements of $62,500 during August. The August bank statement shows $60,900 of checks clearing the bank. What amount of outstanding checks should appear in the August 31 bank reconciliation?
Transcribed Image Text:A company's July 31 bank reconciliation reports outstanding checks of $2,100. The general ledger Cash in Bank account shows total cash disbursements of $62,500 during August. The August bank statement shows $60,900 of checks clearing the bank. What amount of outstanding checks should appear in the August 31 bank reconciliation?
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