Part 3B [16 marks 24 MINUTES) The bank portion of the bank reconciliation for Palesa Florists at 30 November 2019, was as follows. Palesa Florists Bank Reconciliation 30 November 2019 Cash balance per bank R14,367.90 Add: Deposits in transit 2.530.20 16,898.10 Less: Outstanding cheques Cheques number amount 3451 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1.050,00 6,301.80 Adjusted cash balance per bank R10,596.30 The adjusted cash balance per bank agreed with the cash balance per books at 30 November 2019. The December 2019 bank statement showed the following cheques and deposits. Bank Statement Cheques: Deposits: Date Number Date Amount 1 December 3451 R2 260.40 1 December R2 530.20 2 December 3471 844.50 4 December 1 211.60 7 December 3472 1 426.80 8 December 2 365.10 4 December 3475 1640.70 16 December 2 672.70 8 December 3476 1 300.00 21 December 2 945.00 10 December 3477 2130.00 28 December 2 567.30 15 December 3479 3 080.00 29 December 2 836.00 27 December 3480 600.00 30 December 1.025.00 30 December 3482 475.50 Total R18 152.90 29 December 3483 1140.00 31 December 3485 540,80 Total R15,438.70 Amount Amount R 475.50 1140.00 798.00 450.80 889.50 R13 933.20 The cash records per books for December showed the following Cash payments journal Date Number Amount Date Number 1-12 3475 R1 640.70 20-12 3482 2-12 3476 1 300.00 22-12 3483 2-12 3477 2 130.00 23-12 3484 4-12 3478 621.30 24-12 3485 8-12 3479 3 080.00 30-12 3486 10-12 3480 600.00 Total 17-12 3481 807.40 Cash Receipts Journal Date Amount 3-12 R1 211.60 7-12 2 365.10 15-12 2 672.70 20-12 2954.00 25-12 2 567.30 28-12 2 836.00 30-12 1 025.00 31-12 1690.40 Total R17 322.10 The bank statement contained two memoranda messages: A credit of R2,242 for the collection of Palesa Florists of an electronic funds transfer from a customer of Palesa Florists. A debit charge for the printing of additional company cheques R85. At 31 December 2019, the cash balance per books was R13 985.20, and the cash balance per the bank statement was R19 239.10. The bank did not make any errors, but Palesa Florists made two recording errors traceable from the information given. You are required to: i Prepare a bank reconciliation at 31 December 2019. Use the format I gave during the lectures. [9 marks) ii. Prepare the adjusting entries based on the reconciliation. [7 marks)