Use the following information below for The Cashew Company for March 31, 2020:

- Balance per bank statement is $27,248 and the balance per books is $30,851.

- Checks, amounting to $1,341, were still outstanding as of March 31

- A note receivable was collected by Persons Bank on behalf of Cashew and credited to the companys account for $5,150.

- Bank service fees amounted to $120

- Interest was credited to Cashews account for $98.

- Check no. 114, for utilities expense, had erroneously been entered into the Cashews books as $608; the check cleared the bank for $806.

- Check No. 1272 for $500 was classified as Not-Sufficient-Funds (NSF) by Persons Bank and returned to Cashew. The check had been written by Jane Jones, who is one of Cashews customers

- Cashew deposited $9,374 into the ATM machines drop box at Persons Bank on March 31^st. The bank has not yet credited the account.

Directions:

Prepare the bank reconciliation and prepare all necessary adjusting entries to update the cash balance at the end of the month.