Outstanding poem recited? (4)
I believe the answer is:
owed
'outstanding' is the definition.
(as in an outstanding debt)
'poem recited?' is the wordplay.
'poem' becomes 'ode' (ode is a kind of poem).
'recited?' indicates a 'sounds like' (homophone) clue (I've seen 'recited' mean this).
'ode' is a homophone of 'OWED'.
(Other definitions for owed that I've seen before include "(Sum) due for payment" , "to be paid" , "Was due to pay" , "In debt to" , "Had an obligation to pay" .)