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Bryant Corp. had outstanding checks of $2,300 as per the July 31 bank reconciliation. During August, the general ledger shows total cash disbursements of $52,600, all by check. The August bank statement shows that $50,100 in checks were cleared by the bank. What is the amount of outstanding checks to appear in the August 31 bank reconciliation?

Bryant Corp. had outstanding checks of $2,300 as per the July 31 bank reconciliation. During August, the general ledger shows total cash disbursements of $52,600, all by check. The August bank statement shows that $50,100 in checks were cleared by the bank. What is the amount of outstanding checks to appear in the August 31 bank reconciliation?

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 3E
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Please explain the solution to this financial accounting problem with accurate principles.
Bryant Corp. had outstanding checks of $2,300 as per the July 31 bank reconciliation. During August, the general ledger shows total cash disbursements of $52,600, all by check. The August bank statement shows that $50,100 in checks were cleared by the bank. What is the amount of outstanding checks to appear in the August 31 bank reconciliation?
Transcribed Image Text:Bryant Corp. had outstanding checks of $2,300 as per the July 31 bank reconciliation. During August, the general ledger shows total cash disbursements of $52,600, all by check. The August bank statement shows that $50,100 in checks were cleared by the bank. What is the amount of outstanding checks to appear in the August 31 bank reconciliation?
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