QUESTION 40 2 On February 29, 2016, Hollywood Entertainment, Inc. had a bank balance in its checking account of $904. Outstanding checks on that date were $140,000 and the daily deposit of February 29th for $15,600 was in transit. Additionally, in reviewing the bank statement, Hollywood determined that a loan for $250,000 from a major stockholder was not in the account yet. The stockholder's check had cleared the bank and should have been credited to the account on February 29th, but was not until March 1, 2016. Bank service charges of $120 were included in the bank statement. What should be the adjusted cash balance for February 29, 2016? (Do Not enter dollar signs.)