Vantage Products are one of your suppliers. Their account in your ledger is as follows:

Vantage Products Account 20-8 £
20-8 £
12 Oct Purchase returns 75 1 Oct Balance b/d 1,625 28 Oct Bank 1,570 10 Oct Purchases 1,050 28 Oct Discount 55 21 Oct Purchases 1,675 30 Oct Purchase returns 105 31 Oct Balance c/d 2,545 4,350 4,350 1 Nov Balance b/d 2,545 On 2 November the following statement of account is received from Vantage Products:
Statement ofAccount Debit Credit Balance 20-8 £
£
£
1 Oct Balance 3,175 3 Oct Bank 1,500 1,675 3 Oct Discount 50 1,625 8 Oct Sales 1,050 2,675 15 Oct Returns inwards 75 2,600 19 Oct Sales 1,675 4,275 28 Oct Sales 1,550 5,825 You are required to:

(a) Prepare a reconciliation statement, starting with the balance in your hooks of£2,545, to explain the difference between the balance in your ledger and the closing balance on the statement of account.

(b) If the outstanding balance in your ledger on 1 November was settled less 2\ per cent cash discount:
(i) State the amount of discount.
(ii) State the amount of the cheque.