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me month ending March 31 Deposito: 370 Date 3/4 3/11 3/18 3/25 3/26 - 3/31 Amount $ 1.600 1,600 3,700 3,300 2,800 $ 13,000 No Date Checkst 541 3/2 542 543 3/12 544 3/19 545 3/27 Mount $ 5,600 500 2,800 1.900 800 Cash receiptst 546 547 3/28 3/30 900 1,500 $14,000 Balance on March 1 Receipts Disbursements Balance on March 31 S 6,300 13,000 (14,000) $5,300 Information from March's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $6,996, b. Cash receipts of $2,800 from 3/26-3/31 are outstanding, c. Checks 545 and 547 are outstanding, d. The deposit on 3/11 Included a customer's check for $430 that did not clear the bank (NSF check). e. Check 543 was written for $3,400 for office supplies in March. The bank properly recorded the check for this amount f. An automatic withdrawal for March rent was made on March 4 for $1,100. 9. Madison's checking account earns interest based on the average daily balance. The amount of Interest earned for March is $50. h. Last year, one of Madison's top executives borrowed $4100 from Madison On March 24, the executive paid $4,360 ($4,100 borrowed amount plus $260 interest) directly to the bank in payment for the borrowing 1. The bank charged the following service fees: $35 for NSF check, $20 for autchenatic withdrawal for rent payment, and $29 for collection of the loan amount from the executive. 1. Prepare a bank reconciliation for March 31. (Amounts to be deducted should be indicated with a minus MADISON COMPANY Bank Reconciliation March 31 Company's Cash Balance Before reconciliation Bank's Cash Balance Before reconciliation After reconciliation $ O After reconciliation $ 0 2. Record the necessary cash adjustments.(If no entry is required for a transaction/event, select "Na first account field.) View transaction list Journal entry worksheet

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