Question 10

Concord Corporation had checks outstanding totaling $27200 on its May bank reconciliation. In June, Concord Corporation issued checks totaling $170200. The June bank statement shows that $126700 in checks cleared the bank in June. A check from one of Concord Corporation's customers in the amount of $1300 was also returned marked "NSE." The amount of outstanding checks on Concord Corporation's June bank reconciliation should be $43500. $69400. $16300. $70700