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The Cash account in the general ledger showed a balance of $3,600 at June 30. The bank statement showed a balance of $4,500 at June 30. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and several outstanding checks. What is the total amount of outstanding checks at June 30? A. $1,513 B . $1,486 C. $1,607 D. Some other amount

The Cash account in the general ledger showed a balance of $3,600 at June 30. The bank statement showed a balance of $4,500 at June 30. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and several outstanding checks. What is the total amount of outstanding checks at June 30? A. $1,513 B . $1,486 C. $1,607 D. Some other amount

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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The Cash account in the general ledger showed a balance of $3,600 at June 30. The bank statement showed a balance of $4,500 at June 30. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and several outstanding checks. What is the total amount of outstanding checks at June 30? A. $1,513 B . $1,486 C. $1,607 D. Some other amount
Transcribed Image Text:The Cash account in the general ledger showed a balance of $3,600 at June 30. The bank statement showed a balance of $4,500 at June 30. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and several outstanding checks. What is the total amount of outstanding checks at June 30? A. $1,513 B . $1,486 C. $1,607 D. Some other amount
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