Harris Company had checks outstanding totalling $15,400 on its May bank reconciliation. In June, Harris Company issued checks totalling $64,900. The June bank statement shows that $47,600 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 a. $63,000 b. $32,700 c. $49,500 d. $47,600
Harris Company had checks outstanding totalling $15,400 on its May bank reconciliation. In June, Harris Company issued checks totalling $64,900. The June bank statement shows that $47,600 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 a. $63,000 b. $32,700 c. $49,500 d. $47,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Harris Company had checks outstanding totalling $15,400 on its May
bank reconciliation. In June, Harris Company issued checks totalling
$64,900. The June bank statement shows that $47,600 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
a. $63,000
b. $32,700
c. $49,500
d. $47,600
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