Please provide a detailed and accurate response, please.

1. T. Sharp's cash book (bank columns) had a debit balance of $400 on 31 March 2013. The bank statement at the same date showed that T. Sharp had a balance at the bank of $323. On checking the cash book against the bank statement the following differences were found: (a) A debtor, Mae Terry, paid $80 directly into the bank. This had not been recorded in the cash book. (b) ( Bank charges, $50, were included on the bank statement but had not been recorded in the cash book. (c) Insurance premium paid, $32, was recorded on the bank statement but not in the cash book. (d) d Bank interest received of $60 has not been recorded in the cash book. (e) Three cheques, No.22 for $85, No.23 for $80 and No.24 for $100 sent to creditors had not yet been presented to the bank for payment. (1) An amount of $400 paid into the bank on 30 March did not appear on the bank statement. REQUIRED: (i) Starting with the balance on 31 March 2013, update the cash book and bring down the amended balance. [6] (ii) Prepare the bank reconciliation statement starting with the bank statement balance at 31 March 2013. [7] (iii) State one purpose of preparing a bank reconciliation statement. [1] TOTAL MARKS [14]