Harris Company had checks outstanding totaling 4131 on its M

Harris Company had checks outstanding totaling $4,131 on its May bank reconciliation. In June, Harris Company issued checks totaling $38,496. The June bank statement shows that $25,654 in checks cleared the bank in June. A check from one of Harris Company\'s customers of $601 was also returned marked \"NSF.\" Determine the amount of outstanding checks on Harris Company\'s June bank reconciliation. a $16,372 b $16,973 c $64,150 d $21,523

Solution

Answer

Option b. $16,973

Explanation

Outstanding checks beginning $4,131

Add:checks issued $ 38,496

Less:Checks cleared $ 25,654

Outstanding checks ending $ 16,973