Madison Company's cash ledger reports the following for the month ending March 31. Information from Mareh's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $6,721. b. Cash receipts of $2,500 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 $420 that did not clear the bank. e. Check 543 was written for $3,200 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 $1,150. 9. Madison's checking account earns interest based on the average daily balance. The amount of interest earned for March is 550 . h. Last year, one of Madison's top executives borrowed $4,200 from Madison. On March 24, the executive paid $4,410 (\$4,200 borrowed amount plus $210 interest) directly to the bank in payment for the borrowing. 1. The bank charged the following service fees: $33 for NSF check, $13 for an electronic funds transfer (EFT) for rent payment, and $23 for collection of the loan amount from the executive. 1. Prepare a bank reconciliation to calculate the correct balance of cash on March 31. 2. Record the necessary entry(ies) to adjust Madison Company's balance for cash. Complete this question by entering your answers in the tabs below. Prepare a bank reconciliation to calculate the correct balance of cash on March 31. (Amounts to be deducted should be indicated with a minus slgn.) Record the necessary entry(ies) to adjust Madison Company's balance for cash. (If no entry is required for a transaction/event, select. "No Journal Entry Required" in the first account field.) Journal entry worksheet 2