James Company had checks outstanding totaling $10,800 on its June bank reconciliation. In July, James Company issued checks totaling $77,800. The July bank statement shows that $52,600 in checks cleared the bank in July. A check from one of James Company's customers in the amount of $600 was also returned marked "NSF." The amount of outstanding checks on James Company's July bank reconciliation should be which of the following?
a) $25,200
b) $36,000
c) $35,400
d) $14,400

Answer rating: 100% (QA)

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