FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:24.James Company had checks outstanding totaling $21,600 on its June bank reconciliation. In
July, James Company issued checks totaling $155.600. The July bank statement shows
that $105,200 in checks cleared the bank in July. A check from one of James Company's
customers in the amount of $1,200 was also returned marked "NSF." The amount or
outstanding checks on James Company's July bank reconciliation should be
a. $50,400.
b. $72,000.
e $70,800.
d. $28,800.
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