Madison Company's cash ledger reports the following for the month ending March 31. Date Amount No. Date Amount Deposits: 3/4 $ 1,400 Checks: 541 3/2 $ 5,700 3/11 1,700 542 3/8 700 3/18 3,700 543 3/12...

Madison Company's cash ledger reports the following for the month ending March 31.

	Date		Amount			No.	Date		Amount
Deposits:	3/4	$	1,400		Checks:	541	3/2	$	5,700
	3/11		1,700			542	3/8		700
	3/18		3,700			543	3/12		3,000
	3/25		3,500			544	3/19		1,500
Cash receipts:	3/26-3/31		2,100			545	3/27		700
		$	12,400			546	3/28		800
					547	3/30		1,200
Balance on March 1	$	6,100					$	13,600
Receipts		12,400
Disbursements		(13,600	)
Balance on March 31	$	4,900

Information from March's bank statement and company records reveal the following additional information:

1. The ending cash balance recorded in the bank statement is $6,970.


2. Cash receipts of $2,100 from 3/26–3/31 are outstanding.


3. Checks 545 and 547 are outstanding.


4. The deposit on 3/11 included a customer's check for $410 that did not clear the bank (NSF check).


5. Check 543 was written for $3,600 for office supplies in March. The bank properly recorded the check for this amount.


6. An automatic withdrawal for March rent was made on March 4 for $1,100.


7. Madison's checking account earns interest based on the average daily balance. The amount of interest earned for March is $54.


8. Last year, one of Madison's top executives borrowed $4,100 from Madison. On March 24, the executive paid $4,400 ($4,100 borrowed amount plus $300 interest) directly to the bank in payment for the borrowing.


9. The bank charged the following service fees: $34 for NSF check, $15 for automatic withdrawal for rent payment, and $25 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 sign.)
*picture attached

2.
Record the necessary cash adjustments for A & B. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
* A) Record the entries that increase cash & B) Record the entries that decrease cash. *picture attached to use as a guide for A&B.

Extracted text: 1. Prepare a bank reconciliation for March 31. (Amounts to be deducted should be Indicated with a minus sign.) MADISON COMPANY Bank Reconciliation March 31 Bank's Cash Balance Company's Cash Balance Before reconciliation Before reconciliation After reconciliation O After reconciliation

Record the entries that increase cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general jourmal B. "/>
Extracted text: 2. Record the necessary cash adjustments.(If no entry Is required for a transactlon/event, select "No Journal Entry Required" In the first account fleld.) View transaction list Journal entry worksheet A > Record the entries that increase cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general jourmal B.