1. Bank Reconciliation The following information were obtained from the accounting records of Khalid Company at the end of the month, March 31, 2021. The bank statement from Bank Muscat showed a balance of OMR 3,000. The company's checkbook ledger showed a balance of OMR 1,575. Outstanding checks OMR 2,000. NSF checks OMR 50. Deposits in transit OMR 500, There was an error on check #101 which was written for OMR 400, but Khalid incorrectly recorded it as OMR 40. Bank service charge OMR 15. Electronic fund transfer from credit customer collected by bank OMR 300. Interest revenue OMR 50 Required: a. Prepare a bank reconciliation statement. (2 Marks) b. What is the purpose of prepare bank reconciliation? (1 Mark) 2. Petty Cash Fund January 1 - Khalid Company established a petty cash fund of OMR 350 by issuing a check. January 31 - Replenished the fund. It had cash on hand OMR 20 and receipt as follows: Meals and snacks OMR 25 Office supplies OMR 220 Transportation OMR 50 Gas and oil OMR 30 Required: a. Record the journal entries on January 1 and January 31(1 Mark) b. What is petty cash fund and what purpose does it serve? (1 Mark)