Journal entry worksheet 1 2 Record the items that increase cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit View general journal Record entry Clear entry Madison Company's cash ledger reports the following for the month ending March 31. Date Deposits: 3/4 Amount $1,600 Number Date Amount Checks: 541 3/2 $5,400 3/11 1,000 542 3/8 700 3/18 3,900 543 3/12 2,500 3/25 3,300 544 3/19 1,200 Cash receipts: 3/26 to 3/31 2,200 545 3/27 700 $12,000 546 3/28 800 547 3/30 1,400 $12,700 Amount Balance on March 1 $5,300 Receipts 12,000 Disbursements (12,700) Balance on March 31 $4,600 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 $6,749. b. Cash receipts of $2,200 from 3/26 - 3/31 are outstanding. c. Checks 545 and 547 are outstanding. d. The deposit on 3/11 included an NSF check from a customer in the amount of $430 that did not clear the bank. e. Check 543 was written for $3,100 for office supplies in March. The bank properly recorded the check for this amount. f. An electronic funds transfer (EFT) for March rent was made on March 4 for $1,050. g. Madison's checking account earns interest based on the average daily balance. The amount of interest earned for March is $54. h. Last year, one of Madison's top executives borrowed $4,100 from Madison. On March 24, the executive paid $4,350 ($4,100 borrowed amount plus $250 interest) directly to the bank in payment for the borrowing. i. The bank charged the following service fees: $36 for NSF check, $11 for an electronic funds transfer (EFT) for rent payment, and $28 for collection of the loan amount from the ovecutivn Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct balance of cash on March 31. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per bank statement Deposits outstanding Checks outstanding MADISON COMPANY Bank Reconciliation March 31 Company's Cash Balance Per general ledger NSF check from customer Service fees Company balance per reconciliation Bank balance per reconciliation