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McKeel Publishing had outstanding checks totaling $5,560 on its June bank reconciliation. In July, McKeel issued checks totaling $40,500. The July bank statement shows that

McKeel Publishing had outstanding checks totaling $5,560 on its June bank reconciliation. In July, McKeel issued checks totaling $40,500. The July bank statement shows that $28,700 in checks cleared the bank in July. The amount of outstanding checks on McKeel's July bank reconciliation should be:

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$5,560.

$11,800.

$6,240.

$17,360.

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