1. Elkins Company had checks outstanding totaling $5,400 on its June bank reconciliation. In July, Elkins 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 Elkins Company's customers in the amount of $300 was also returned marked "NSF." The amount of outstanding checks on Elkins Company's July bank reconciliation should be

 

 

 

 

A)$18,000.
B)$17,700.
C)$7,200.
D)$12,600.

2.Gagne Company gathered the following reconciling information in preparing its July bank reconciliation:

 

 

Cash balance per books, 7/31$4,500

 

 

 

Deposits-in-transit150

 

 

 

Notes receivable and interest collected by bank850

 

 

 

Bank charge for check printing20

 

 

 

Outstanding checks2,000

 

 

 

NSF check170

 

 

 

The adjusted cash balance per books on July 31 is

 

 

 

 

A)$3,460.
B)$3,310.
C)$5,160.
D)$5,010.

Hope you can show me the steps. Thank you so much.