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Umbrella received its monthly bank statement, which showed an ending balance of $30,000. Adjustments on Umbrella's monthly bank reconciliation included a deposit in transit,
Umbrella received its monthly bank statement, which showed an ending balance of $30,000. Adjustments on Umbrella's monthly bank reconciliation included a deposit in transit, $4,000; outstanding checks, $6,000; an "NSF" check for $1,000; a bank service charge of $60; proceeds of a customer's note collected by the bank of $8,000. What was the corrected cash balance shown on the balance sheet at the end of the month (after necessary adjusting entries related to the Bank Rec $27,000 $28,000 O $26,940 $34,940
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