20. King corporation often transfer funds from its general account into a special account that is used exclusively to make debt payment. Near the end of the year, the company had the below transfer. Given the below information, choose the correct statement about King's cash balance.

| Amounts | From general Account | | From special account | |
| | | | | |
| | Recorded by books | Recorded by banks | Recorded by books | Recorded by banks |
| $35,000 | 12/29/2020 | 1/2/2021 | 12/31/2020 | 12/31/2020 |
| $20,000 | 12/30/2020 | 12/31/2020 | 1/2/2021 | 1/2/2021 |
| $30,000 | 12/31/2020 | 1/2/2021 | 12/31/2020 | 1/2/2021 |
| $40,000 | 1/2/2021 | 1/4/2021 | 12/31/2020 | 1/3/2021 |
(A) Cash is overstated by $15,000.
(B) Cash is overstated by $20,000.
(C) Cash is overstated by $40,000.
(D) Cash if fairly stated.