Minor Company had checks outstanding totaling $19,200 on its April bank reconciliation.In May,Minor Company issued checks totaling $64,900.The May bank statement shows that $47,600 in checks cleared the bank in May.A check from one of Minor Company's customers in the amount of $300 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be

Question

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To find the outstanding checks for May, start with the outstanding checks from April ($19,200), add the checks issued in May ($64,900), and subtract the checks that cleared in May ($47,600). This results in $36,500 in outstanding checks. The NSF check does not affect the calculation of outstanding checks.

Minor Company Had Checks Outstanding Totaling $19,200 on Its April