Sheffield Corp. had checks outstanding totaling $34300 on its June bank reconciliation. In July, Sheffield...
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Accounting
Sheffield Corp. had checks outstanding totaling $34300 on its June bank reconciliation. In July, Sheffield Corp. issued checks totaling $247400. The July bank statement shows that $167300 in checks cleared the bank in July. A check from one of Sheffield Corp.'s customers in the amount of $1900 was also returned marked "NSF." The amount of outstanding checks on Sheffield Corp.'s July bank reconciliation should be
$45800.
$114400.
$80100.
$112500.
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