As the accountant, you have been asked to do the following:a.Prepare an updated cashbook for the month b.Prepare a bank reconciliation statement for the month c.Advise the directors of Phillips Hardware how they can use the internal control measures listed below to mitigate against error and fraud in the business. i.Physical Observation. ii.Authorization and Approvaliii.Segregation of Duties

The bank columns in the cash book for June 2019 and the bank statement for that month for Phillips Hardware Company Ltd are as follows Cash Book 2019 $ 2019 1-Jun Balance bid 4,230 5-Jun R Red 540 7-Jun P. Ryan 186 12-Jun J. Rebus 1,557 16-Jun G. Grey 225 16-Jun Y Yale 123 28-JunJ. Jim 672 29-Jun Blister Disco 66 30-Jun T. Fling 1,746 30-Jun Balance o'd 4,773 7 059 7059 Bank Statement June 2019 Dr Cr Balance S S 1 Balance bid 4.230 7 Cheque 186 4.416 R Red $40 3 876 16 Cheque 125 4.101 17 J. Rebus 1,557 2.544 18 Y Yale 123 2.421 28 Cheque 672 3.093 29 SLM standing order 156 2,937 G.Rice trader's credit 192 13 129 30 Bank charges 129