Question 15 (2 points) On Amy Corp's April bank reconciliation, cheques outstanding totalled $9.620. In May, the corporation issued cheques totalling $26.800. The May bank statement shows that $24,250 in cheques cleared the bank in May. A cheque from one of Amy Corp.'s customers in the amount of $325 was also returned marked "NSE" The amount of outstanding cheques on Amy's May bank reconciliation should be $11,845 $12.170 $12,495 $ 2.550 Question 16 (1 point) Notification by the bank that a customer's deposited cheque was returned NSF requires that the depositor make the following adjusting entry: No adjusting entry is necessary Bank Charges Expense Accounts Receivable Cash Accounts Receivable Accounts Receivable Cash Question 17 (1 point) Gross profit (margin) will result if: operating expenses are less than net income. sales revenue is greater than cost of goods sold. operating expenses are greater than cost of goods sold. sales revenue is greater than operating expenses