Sheridan Company had checks outstanding totaling $27200 on its June bank reconciliation. In July, Sheridan Company issued
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Question:
Sheridan Company had checks outstanding totaling $27200 on its June bank reconciliation. In July, Sheridan Company issued checks totaling $196100. The July bank statement shows that $132600 in checks cleared the bank in July. A check from one of Sheridan Company's customers in the amount of $1500 was also returned marked "NSF." The amount of outstanding checks on Sheridan Company's July bank reconciliation should be?
- $89200.
- $36300.
- $63500.
- $90700.
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