1.1 BANK RECONCILATION Study the information from the records of Makulu Padstal and complete the following instructions. REQUIRED: 1.1.1 Calculate the balance of the Bank Account in the ledger of the business on 1 October 2023. 1.1.2 Prepare the Bank Account in the General Ledger by making the necessary entries directly in the Bank Account for 31 October 2023. NOTE: FOLIOS ARE NOT REQUIRED. (6) (10) 1.1.3 Prepare the bank reconciliation statement on 31 October 2023. (10) 1.1.4 Briefly explain the purpose of doing a bank reconciliation. (2) 1.1.5 Name ONE advantage of using electronic funds transfers (EFT). INFORMATION: (1) 1. The official bank statement was issued on 26 October 2023. 2. 3. pyright reserved The journals had the following provisional totals on 31 October 2023: Cash Receipt Journal: Cash Payment Journal: R54 210 R49 210 The following is an extract from the September 2023 bank reconcilation statement: Unfavorable balance according to the bank statement Outstanding deposit Outstanding EFT: 184 185 186 R13 920 R7 550 R700 R2 548 R896 Balance according to the bank account The following items only appear on the bank statement issued on 26 October 2023: . Bank charges, R254 Interest on overdraft, R788 Four debit orders accumulated to a amount of R4 562 (Sundry expenses) Interest on fixed deposit (3 months), R529 A deposit of R7 550 EFT 184 en 185 Please turn over