In preparing its May 31, 2020 bank reconciliation, Catt Co. has the following information available:
Balance per bank statement, 5/31/20 $40,000
Deposit in transit, 5/31/20 5,400
Outstanding checks, 5/31/20 4,900
Note collected by bank in May 1,250
The correct balance of cash on May 31, 2020, is?
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