Minor Company had cheques outstanding totaling $19,200 on its April bank reconciliation. In May, Minor Company issued cheques totaling $64,900. The May bank statement shows that $47,600 in cheques cleared the bank in May. A cheque of $300 from one of Minor Company's customers was also returned marked "NSF (Non-sufficient fund)." The amount of outstanding cheques on Minor Company's May bank reconciliation should be Select one: A. $17,300 B. $28,400 C. $66,800 D. $36,500
Minor Company had cheques outstanding totaling $19,200 on its April bank reconciliation. In May, Minor Company issued cheques totaling $64,900. The May bank statement shows that $47,600 in cheques cleared the bank in May. A cheque of $300 from one of Minor Company's customers was also returned marked "NSF (Non-sufficient fund)." The amount of outstanding cheques on Minor Company's May bank reconciliation should be Select one: A. $17,300 B. $28,400 C. $66,800 D. $36,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Minor Company had cheques outstanding totaling $19,200 on its April bank reconciliation. In May, Minor Company issued cheques totaling $64,900. The May bank statement shows that $47,600 in cheques cleared the bank in May. A cheque of $300 from one of Minor Company's customers was also returned marked "NSF (Non-sufficient fund)." The amount of outstanding cheques on Minor Company's May bank reconciliation should be
Select one:
A. $17,300
B. $28,400
C. $66,800
D. $36,500
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