Read practice question below and answer. No explanation needed.

During the audit of ABC Company you hccarne suspicious of management and their cash management methods and decided to test the accuracy of the outstanding cheques shown on the yearend hank reconciliation. Since this is a great area to hide any kiting. lapping and other embezzlement opportunities, you gathered the necessary information to prepare the bank reconciliation and recalculate the outstanding cheques amount to verify the one on the yearend reconciliation {the company hank reconciliation shows outstanding cheques as S. Use the following infomiation to prepare the bank reconciliation and determine what the outstanding cheques amount should he. I: It] marks] NSF cheque from customer $93,588 - Mortgage payment on building taken directly from hank account $2ti,'l?9 Outstanding deposits $68,650 EFT from customer $350,000 Gr"'Lban]t halanee~ Dec.31,2815| $439,563 - Error on cheque # 94531. cheque issued and posted correctly as $63,208 but dehited hy the hank incorrectly as $315,200. Bank statement balance at Dec. 31. 2019 $639,422 Bank service charges ii 1115 rInterest earned on 8hOI't-T.('.I'I11 investments and deposited directly in the account ii 436 If there is a difference in the DIS cheques according to your bank reconciliation, what is the difference? 0 Outstanding cheques $392,548. Difference $0 0 Outstanding cheques $323,558. Difference $ 63.248 0 Outstanding cheques $243,548. Difference $ ?5.000 0 Outstanding cheques $351,548. Difference $41,880