Question 1 It is 6 April 2023 and Fada Konko just received a statement from his bankers. The statement presents transactions that took place during the previous month, March 2023. The balance of his account as per the bank statement was GHS70,586. However, the bank balance in his general ledger was GHS69,800. An investigation into the cause of the discrepancy revealed the following: 1. Cash sales amounting to GHS1,100, which have been paid into bank, were recorded in the sales account only. The corresponding entry was omitted. 2. The bank had debited his account with current account monthly charge of GHS4. 3. One of his clients, Ato had paid GHS200 direct into the bank account. The payment was in respect of supplies to him. No entries have been made in the general ledger in respect of this transaction. 4. Cheques amounting to GHS670 that were issued to suppliers had not been presented to the bank for payment. 5. A withdrawal of GHS200 from his bank account did not show up in the bank statement. 6. Cheques amounting to GHS780, which were received from clients and paid into bank, did not show up in the bank statement. 7. Fada Konko has an agreement with the bank to pay monthly rent of GHS600 out of his bank account. The bank statement indicates that the bank had discharged the rent obligation for March. He got information about this payment when he received the bank statement. Required: (a) Update the cashbook. (b) Prepare a bank reconciliation statement to reconcile the revised bank balance in his books with the bank statement balance