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

	Date	Amount		Number	Date	Amount
Deposits:	3/4	$1,900	Checks:	541	3/2	$5,800
	3/11	1,100		542	3/8	400
	3/18	3,800		543	3/12	2,900
	3/25	3,600		544	3/19	1,800
Cash receipts:	3/26 to 3/31	2,300		545	3/27	300
		$12,700		546	3/28	800
				547	3/30	1,700
						$13,700

	Amount
Balance on March 1	$5,800
Receipts	12,700
Disbursements	(13,700)
Balance on March 31	$4,800

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

1. The ending cash balance recorded in the bank statement is $6,621.
2. Cash receipts of $2,300 from 3/26 - 3/31 are outstanding.
3. Checks 545 and 547 are outstanding.
4. The deposit on 3/11 included an NSF check from a customer in the amount of $410 that did not clear the bank.
5. Check 543 was written for $3,500 for office supplies in March. The bank properly recorded the check for this amount.
6. An electronic funds transfer (EFT) for March rent was made on March 4 for $1,350.
7. Madison's checking account earns interest based on the average daily balance. The amount of interest earned for March is $53.
8. Last year, one of Madison's top executives borrowed $4,200 from Madison. On March 24, the executive paid $4,500 ($4,200 borrowed amount plus $300 interest) directly to the bank in payment for the borrowing.
9. The bank charged the following service fees: $36 for NSF check, $15 for an electronic funds transfer (EFT) for rent payment, and $21 for collection of the loan amount from the executive.

Required:

1. Prepare a bank reconciliation to calculate the correct balance of cash on March 31.
2. Record the necessary entry(ies) to adjust Madison Companys balance for cash.