MIKE - O-K, well, since the M20 has a side draft it just got a LOT easier.
I just checked the Kohler website and if anything, I think the carb off the K341 would work, but probably be TOO BIG! The manual says there's three different carb's used on the M20, a 1" Kohler carb, which is identicle to the Kohler/Carter carbs on the K-series, but I suspect the 1" on the M20 is comparable to the #26 carb used on the K-series. Then there's a 1" Walbro with high speed mixture adjustment, and last the fixed high speed mixture 1" Walbro.
I see in the manual what you mean about the "elbow", I think the carb on the K341 would fit and work.
Most single cylinder engines have to run larger carbs than a twin or multi-cylinder engine since all the intake air has to get sucked thru the carb so quickly. A twin cylinder 20 HP engine actually draws on the carb about like two 10 HP single cylinder engines firing opposite each other. To show the effects of this, my K321 has a #30 carb, which equals 1-3/16ths inch bore, a 15/16ths inch drill bit just fit through the carb venturi, and the engine makes 14 HP @ 3600 RPM. My Super H has a 1-1/4 inch IH side draft carb, about 12% more flow area thru the carb body, not sure what the ID of the venuri is, I didn't get a chance to measure it 43 years ago when Dad & I had the carb apart. But the Super H made 33+ HP @ 1650 RPM from a carb 12% bigger than the K321 Kohler's, but made 235% of the HP because it's a 4-cylinder engine, it draws almost continuously on the carb.