Bank Reconciliation The information given below was extracted from the accounting records of Lavida Stores Cash Receipts Journal Details Bank Total bi/ Cash Payments Journal Details Bank Total b/ Bank Reconciliation Statement as at 31 March 2021 Debit Credit INFORMATION R 1 The bank column of each of the cash joumals showed the following totals before the March 2021 bank statement was received: 300 000 Cash Receipts Joumal 350 000 Cash Payments Joumal 2 A comparison of the cash Journals of LAVIDA Stores for March 2021 and the Bank Reconciliation Statement for February 2021 with the bank statement from STD Bank for March INFORMATION R 1 The bank column of each of the cash Journals showed the following totals before the March 2021 bank statement was received: 300 000 Cash Receipts Journal 350 000 Cash Payments Joumal 2. A comparison of the cash journals of LAVIDA Stores for March 2021 and the Bank Reconciliation Statement for February 2021 with the bank statement from STD Bank for March 2021 revealed the following differences: 2.1 Entries that appeared on the bank statement but not in the cash journals: R 2.1.1 A cheque previously received from the lessee for rent was dishonoured because of insufficient funds. 6 800 2.12 A debit order in favour of Telkom for the personal telephone account of the proprietor. 3 800 2.1.3 Charges levied by STD Bank: Service fees 1 500 Cash deposit fee 1.000 Interest on overdraft 100 2.1.4 A deposit by a debtor to settle his account of R6 200 6 000 2.1.5 A deposit by STD Bank for a successful loan application 50 000 22 Entries in the cash journals that did not appear in the bank statement: R 2.2.1 A deposit made on 31 March 2021 102 400 2.22 The following cheque issued during March 2021 8 700 Cheque no. 320 3. Additional Information R 3.1 Cheque no. 290 (dated 23 February 2021) which appeared in the Bank Reconciliation Statement for February 2021 did not appear in the bank statement for March 2018 16 140 3.2 Cheque no. 260 issued to Ricky's Soccer Club during January 2021 as a donation must be cancelled as the club no longer exists. 4 800 3.3 A deposit made by Martin's Stores was erroneously reflected on the bank statement of Lavida Stores 4000 3.4 An entry was made in the Cash Payments Journal for a cheque to a creditor How'd Suppliers for R10 000. The bank statement reflected the correct amount of the cheque, R11000 3,5 The bank account in the ledger of Lavida Stores reflected a debit balance on 38 800 01 March 2021 3.6 The bank statement showed an unfavourable balance on 31 March 2021. 38 160 3.1 (11 marks) Complete the Cash Receipts Journal and Cash Payments Journal of Lavida Stores for March 2021 after taking the information provided into account. Use only the columns illustrated below. In the details column write down the name of the contra account e.g. Rent income Post to the Bank account in the General ledger of Lavida Stores. Balance the account Prepare the Bank Reconciliation Statement as at 31 March 2021. Use the following format: 3.2 (3 marks) 3.3 (6 marks)