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# Jones Company and Santos Company

5. 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 ________.
\$7,200
\$12,600
\$17,700
\$18,000

6. Santos Company gathered the following reconciling information in preparing its August bank reconciliation:
Cash balance per books, 8/31 \$3,500
Deposits in transit 150
Notes receivable and interest collected by bank 850
Bank charge for check printing 20
Outstanding checks 2,000
NSF check 170

The adjusted cash balance per books on August 31 is _______.
\$4,160
\$4,010
\$2,310
\$2,460

#### Solution Preview

5. 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 ...

#### Solution Summary

This solution is comprised of a detailed explanation to answer what is the amount of outstanding checks on Jones Company's July bank reconciliation and the adjusted cash balance per books on August 31 for Santos Company.

\$2.19