7. Assume the following facts for Kurt Company: The month end bank statement shows a balance of P40,000; outstanding checks tota r2,000; a deposit of P8,000 is in transit at month- end; and a check for P400 is erroneously charged by the bank the account. What is the correct cash balance at the end against of the month? a. P33,600 b. P34,400 c. P45,600 d. P46,400 Adapted)