Nolan Company Had Checks Outstanding Totaling $7,200 on Its June

Multiple Choice

Nolan Company had checks outstanding totaling $7,200 on its June bank reconciliation.In July, Nolan Company issued checks totaling $51,900.The July bank statement shows that $32,400 in checks cleared the bank in July.A check from one of Nolan Company's customers in the amount of $400 was also returned marked "NSF." The amount of outstanding checks on Nolan Company's July bank reconciliation should be

A) $19,500.
B) $26,700.
C) $26,300.
D) $12,300.