Below is information about Adam Ltd's cash position for the month of May 2020. 1. The general ledger Cash at Bank account had a balance of $42,400 on 30 April. 2. The cash receipts journal showed total cash receipts of $585,408 for May. 3. The cash payments journal showed total cash payments of $530,148 for May. 4. The June bank statement reported a bank balance of $82,368 on 30 May. 5. Outstanding cheques at the end of May were: no. 221, $2896; no. 225, $308; and no. 230, $820. 6. Cash receipts of $20,180 for 31 May were not included in the May bank statement. 7. A dishonoured cheque written by a client Jim Ltd, $272 8. A credit for an electronic transfer from a customer of $1,288 9. Interest earned, $88 10. Account and transaction fees, $240. Required: a) Update the cash receipts and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for May- (4 marks) b) Post from cash receipts and cash payments journals to the Cash at Bank ledger account and balance the account. (1 mark) c) Prepare a bank reconciliation statement at 31 May. (4 marks) Cash Receipts Journal Date Particulars Cash at Bank Cash Payments Journal Date Particulars Cash at Bank