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The Odum Corporations cash account showed a balance of $17,198 on March 31, 2007. The bank statement balance for the same date indicated a balance

The Odum Corporations cash account showed a balance of $17,198 on March 31, 2007. 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, 2007.

1. Undeposited cash on hand on March 31 amounted to $724.50.

2. A customers NSF check for $173.80 was returned with the bank statement.

3. 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.

4. The bank service charge for March was $15.

5. A deposit of $951.75 mailed to the bank on March 31 did not appear on the bank statement.

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

#429 $ 57.40 #433 $214.80

#432 $147.50 #434 $191.90

7. 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 the Odum Corporation for March 31, 2007.

2. Prepare any adjusting journal entries necessary to record the information from Requirement 1.

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