Q1 A. What is a bank reconciliation and why is it important for companies to do it periodically? B.Prepare a Bank Reconciliation Statement for XYZ company that has Bank statement of $9,000. Cash account of $7,500. Additional information for the reconciliation: Deposit in transit NSF Check Outstanding check. Collections made by the bank Required: provide an amount of each informationto bring the adjusted balances to be equal (2 Marks). Q2 Assume that you have a company. And the management estimates that 2.5% of sales will be uncollectible. Provide an amount of sales and prapare the journal entryusing the percent of sales method (1 Mark). Q3. Q3 A company that uses aperpetual inventory system made the following cash purchases and sales. There was no beginning inventory (2 Marks). Purchased 100 units at SAR10 per unit January 1: Labruary 5 Purchased 60 units at SAR 12 per unit March 16 Sold 40 Units for SAR 16 p er unit Prepare general journal entries to record the March 16 sale using the FIFO invantoY vaaionnathod A random sample of size 30 from a normal population yields X 39 and s 5.3. The lower bound of a 95 percent confidence interval is (Round off upto 2 decimal places)