Assume the following facts for Kurt Company: The month-end bank statement shows a balance of P40,000; outstanding checks total P2,000; a deposit of P8,000 is in transit at month-end; and a check for P400 was erroneously charged against the account by the bank.

What is the correct cash balance at the end of the month?

Group of answer choices

P33,600

P46,400

P34,400

P45,600