(15 marks) Question Three The following bank reconciliation statement pertains to Big Five Ltd for the month of February 2022 Amount (K) Balance as per bank statement 1,629,000 Outstanding cheques (434,600) Cheques deposited and under clearance 228,175 Debit advices for bank charges received in March 2022 4,620 Un-reconciled difference (4,500) Balance as per bank book 1,422,695 Additional information: 0 Outstanding cheques include: a cheque of K18,625. The cheque was recorded in the bank book as K16,375. a cheque amounting to K4,825 which is outstanding since 8 June 2021. Cheques outstanding for more than six months are not honoured by the bank. (ii) Cheques under clearance include a post-dated cheque of K17,500 received from a customer on 27 February 2022. The cheque was deposited in the bank on 28 February 2022. The date of the cheque was 1 March 2022. (iii) The bank charges include an amount of K1,250 which was subsequently reversed by the bank. (iv) A page total of payment side of the bank book amounting to K2,294,500 was carried forward to the next page as K2,299,000 Required: (a) Post relevant transactions to the bank book to arrive at the correct balance as at 28 February 2022 (5 marks) (b) Prepare a revised bank reconciliation statement for the month of February 2022 using the corrected bank book balance