Odum Corporations cash account showed a balance of $17,198 on March 31, 2016. The bank statement balance for the same date indicated a balance of $17,924.55. The following additional information is available concerning Odums cash balance on March 31:

	Undeposited cash on hand on March 31 amounted to $724.50.
	A customers NSF check for $173.80 was returned with the bank statement.
	A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement.
	The bank service charge for March was $15.
	A deposit of $951.75 mailed to the bank on March 31 did not appear on the bank statement.

The following checks mailed to creditors had not been processed by the bank on March 31:

Check #	Amount
429	$57.40
432	147.50
433	214.80
434	191.90

A customer check for $149.50 in payment of his account and listed correctly for that amount on the bank statement had been incorrectly recorded on the accounting records as $194.50.

	Required:
1.	Prepare a bank reconciliation for Odum on March 31, 2016.
2.	Prepare any adjusting journal entries necessary from the bank reconciliation on March 31.

Odum Corporation General Ledger ASSETS REVENUE 411 Sales Revenue 431 Interest Income 111 Cash 121 Accounts Receivable 125 Notes Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment 198 Accumulated Depreciation EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 910 Income Tax Expense LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings Labels and Amount Descriptions Labels Outstanding checks scriptions ck429 ck432 ck433 ck434 Adjusted cash balance Bank service charge (Miscellaneous expense) Check incorrectly recorded Deposit in transit Interest on note Note collected by bank Returned NSF check Undeposited cash GENERAL JOURNAL Score: 50/75 DATE ACCOUNT TITLE POST REF DEBIT CREDIT Mar. 31 Accounts Receivable Cash Notes Receivable 2,000.00 Interest Income Score: 14/149 Odum Corporation Bank Reconciliation March 31, 2016 1 Balance from bank statement $17,924.55 2 Add: 4Deposit in transit 951.75 7 Deduct: 8 Label) 10 12 13 14 Adjusted cash balance 15 16 Balance from company records 17 Add: 18 19 20 21 22 Deduct: 23 24 25 26 27 Adjusted cash balance