James Company Had Checks Outstanding Totaling $21,600 on Its June

question 179

Multiple Choice

James Company had checks outstanding totaling $21,600 on its June bank reconciliation. In July, James Company issued checks totaling $155,600. The July bank statement shows that $105,200 in checks cleared the bank in July. A check from one of James Company's customers in the amount of $1,200 was also returned marked "NSF." The amount of outstanding checks on James Company's July bank reconciliation should be

• A) $50,400.
• B) $72,000.
• C) $70,800.
• D) $28,800.

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