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    POquendo's Avatar
    POquendo Posts: 1, Reputation: 1
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    #1

    Oct 22, 2008, 05:47 PM
    Jones Company had checks outstanding totaling $5,400 on its June bank reconciliation.
    Jones Company had checks outstanding totaling $5,400 on its June bank reconciliation. In July, Jones Company issued checks totaling $38,900. The July bank statement shows that $26,300 in checks cleared the bank in July. A check from one of Jones Company's customers in the amount of $300 was also returned marked "NSF." The amount of outstanding checks on Jones Company's July bank reconciliation should be ________.
    MLSNC's Avatar
    MLSNC Posts: 158, Reputation: 17
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    #2

    Oct 22, 2008, 08:03 PM

    Checks written in prior mo. And o/s 5,400
    July checks 38,900
    Less checks that cleared (26,300)

    This should be the outstanding cks 18,000

    That's the way I would do it. See if it makes sense.
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