1. Madison Company's cash ledger reports the following for the month ending March 31, 2012. 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 $6,790. b. Cash receipts of $2,100 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 $400 that did not clear the bank (NSF check). e. Check 543 was written for $2,800 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 $1,500. g. Madison's checking account earns interest based on the average daily balance. The amount of interest earned for March is $50. h. Last year, one of Madison's top executives borrowed $4,000 from Madison. On March 24, the executive paid $4,200 ($4,000 borrowed amount plus $200 interest) directly to the bank in payment for the borrowing. i. The bank charged the following service fees: $30 for NSF check, $10 for automatic withdrawal for rent payment, and $20 for collection of the loan amount from the executive. Requirements:

1. Prepare a bank reconciliation for March 31, 2012,
2. Record the necessary cash adjustments.