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Sunland Company had checks outstanding totaling $11100 on its June bank reconciliation. In July, Sunland Company issued checks totaling $77100. The July bank statement shows that $76000 in checks cleared the bank in July. A check from one of Sunland Company's customers in the amount of $1080 was also returned marked "NSF." The amount of outstanding checks on Sunland Company's July bank reconciliation should be O $11120. O $13280. O $1100. O $12200.

Sunland Company had checks outstanding totaling $11100 on its June bank reconciliation. In July, Sunland Company issued checks totaling $77100. The July bank statement shows that $76000 in checks cleared the bank in July. A check from one of Sunland Company's customers in the amount of $1080 was also returned marked "NSF." The amount of outstanding checks on Sunland Company's July bank reconciliation should be O $11120. O $13280. O $1100. O $12200.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sunland Company had checks outstanding totaling $11100 on its June bank reconciliation. In July, Sunland Company issued checks totaling $77100. The July bank statement shows that $76000 in checks cleared the bank in July. A check from one of Sunland Company's customers in the amount of $1080 was also returned marked "NSF." The amount of outstanding checks on Sunland Company's July bank reconciliation should be O $11120. O $13280. O $1100. $12200.
Transcribed Image Text:Sunland Company had checks outstanding totaling $11100 on its June bank reconciliation. In July, Sunland Company issued checks totaling $77100. The July bank statement shows that $76000 in checks cleared the bank in July. A check from one of Sunland Company's customers in the amount of $1080 was also returned marked "NSF." The amount of outstanding checks on Sunland Company's July bank reconciliation should be O $11120. O $13280. O $1100. $12200.
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