Minor Company had checks outstanding totaling $4,889 on its April bank reconciliation. In May, Minor Company issued checks totaling $41, 278. The May bank statement shows that $26,319 in checks cleared the bank in May. A check from one of Minor Company's customers of $451 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be a. $67, 597 b. $21,430 c. $19,848 d. $19,397

Minor Company had checks outstanding totaling $4,889 on its April bank reconciliation. In May, Minor Company issued checks totaling $41, 278. The May bank statement shows that $26,319 in checks cleared the bank in May. A check from one of Minor Company's customers of $451 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be a. $67, 597 b. $21,430 c. $19,848 d. $19,397

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 5E

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