Madison Company's cash ledger reports the following for the month ending March 31. Deposita: Date 3/4 3/11 3/18 3/25 3/26- 3/31 Amount $ 1,800 1,500 4,100 3,800 2,300 NO. Checks: 541 542 543 544 Date 3/2 3/8 3/12 3/19 3/27 Amount $ 5,200 500 2,300 1,700 Cash receipts 545 600 $ 13,500 546 547 3/28 3/30 600 1,800 $12,700 Balance on March 1 Receipts Disbursements Balance on March 31 $ 5.500 13,500 (12,700) $ 6,300 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 $8,874. b. Cash receipts of $2,300 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 $440 that did not clear the bank (NSF check). e. Check 543 was written for $2,900 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 $55. h. Last year, one of Madison's top executives borrowed $4,400 from Madison. On March 24, the executive paid $4,640 ($4,400 borrowed amount plus $240 interest) directly to the bank in payment for the borrowing. 1. The bank charged the following service fees: $35 for NSF check. $20 for automatic withdrawal for rent payment, and $26 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.) MADISON COMPANY Bank Reconciliation March 31 Company's Cash Balance Before reconciliation Bank's Cash Balance Before reconciliation