As an accounts executive of Kai Trading, one of your monthly routine tasks is to prepare a bank reconciliation statement. For the month of March 2020, you have collected the following information: 1. The opening (March 1, 2020) Cash at Public Bank' ledger account balance is $18,660 (Dr) and the bank statement as at March 31, 2020 showed a debit balance of $12,550. 2. Cash journals prepared for the month of March 2020 has the following totals: Cash receipt journal $186,520 Cash payment journal $174,080 There have been errors detected by both Kai Trading and the banker. The cash receipt journal had overstated a receipt from a customer by $2,200 and the banker had wrongly included a cheque deposit that belongs to Katty Trading amounting to $5,400 in Kai's bank account Deposits in transit amounted to $68,260. The following cheques drawn by Kai Trading have not been presented for payments: Cheque No: $ 2158 6,110 2162 3,020 2164 1,280 2175 5,000 3. 4. 5. 6. Kai Trading has given a standing instruction to Public Bank to pay monthly rental of $6,500 and insurance premium of $1,500. Kai also made an online transfer to a supplier of $1,000. These transactions have not been recorded in the cash book yet as you were on lockdown from March 18 for 2 weeks. Bank charges for the month amounted to $360. It has been noted that there were two credit transfers during the month. A customer transferred $8,960 directly into Kai Trading's bank account at Public Bank. Similarly, a dividend of $6,400 from an investment was credited directly to its bank account. 7. Required: (1) Prepare the 'Cash at Public Bank' ledger account for the month of March 2020 by including all updates and corrections. (ii) Prepare the bank reconciliation statement as at March 31, 2020