Question $4$

The bank statement reported an ending balance of $$58,480$ after deducting $$880$ in service charges and an addition of $$18,000$ for a note collected by the bank on the Bannister Company's behalf. The company books reported an ending balance of $$38,760,$ and determined that deposits in transit equal $$22,400$ and outstanding checks equal $$25,000.$

What is the adjusted cash balance?

Select one:

A$.$ $$55,880$

B$.$ $$22,400$

C$.$ $$47,880$

D$.$ $$28,160$