On March 1 of the current year, Shelbey Company had outstanding checks of ($ 15,000). During March,

Question:

On March 1 of the current year, Shelbey Company had outstanding checks of $\$ 15,000$. During March, the company issued an additional $\$ 57,000$ of checks. As of March 31, the bank statement showed $\$ 48,000$ of checks had cleared the bank during the month. What is the amount of outstanding checks on March 31?

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