Ryan Company Deposits All Cash Receipts on the Day They $\begin{array}{|l|r|}\hline \text { Deposit in transit } & 1,450 \\\hline \text { Outstanding checks } & 837\\\hline\end{array}$

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $18,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: $\begin{array}{|l|r|}\hline \text { Deposit in transit } & 1,450 \\\hline \text { Outstanding checks } & 837\\\hline\end{array}$ Additionally, a $29 check written and recorded by the company correctly was recorded by the bank as a $92 deduction.
The adjusted cash balance per the bank records should be:

A) $18,974
B) $20,711
C) $19,037
D) $18,911
E) $16,137