Ryan Company Deposits All Cash Receipts on the Day They $$\begin{array} { | l | r | } \hline \text { Deposit in transit } & 1.450 \\\hline \text { Outstanding checks } & 8 3 7 \\\hline\end{array}$$

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: $$\begin{array} { | l | r | } \hline \text { Deposit in transit } & 1.450 \\\hline \text { Outstanding checks } & 8 3 7 \\\hline\end{array}$$ 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