Question 3 a. On 1 January 2020, the records of Wilson Electrical Supplies showed that the Bank Overdraft account in the general ledger had a balance of $1 870.00 Cr. The bank reconciliation as at 31 December 2019 agreed with the general ledger as at 31 December 2019. b. The following information is available for Jan 2020. Assume any errors were made by the Bank. CASH RECEIPTS JOURNAL Date Particulars 2020 Jan 4 Sales T Smith 17 K Heinz 28 Sales Parts sales Bank Overdraft 600 2 410 3 010 2 500 4256 CASH PAYMENTS JOURNAL Date Particulars Cheque 2020 Number Jan 4 Electricity Expenses 201 7 Electrical Wholesalers 202 10 Telephone Expense 203 12 Wages Expense 204 17 Advertising Expense 205 Junipers 206 21 Inventory 207 23 Wages Expense 208 Bank Overdraft 490 1 560 190 1 320 456 4010 2 450 1 175 A/c No 2684825 Credits $ 3010 Wilson Electrical Supplies Westside Bank BANK STATEMENT Date Particulars Debits Balance 2020 $ Jan 1 Balance forward 5 Cash and cheques 11 Account Fee 28 12 Cheque 203 180 12 Cheque 204 1 320 17 EFT U Knowles 19 Cash and cheques 20 Cheque 202 1 560 20 Returned cheque (T Smith) 2 410 29 Cheque 207 2 450 29 Cheque 206 4 010 30 Interest on Term Dep 30 Interest on Overdraft 75 1 520 3 010 $ 1 870 Dr 1 140 Cr 1 112 Cr 932 Cr 388 Cr 1 132 Cr 4 142 Cr 2 582 Cr 172 Cr 2 278 Dr 6 288 Dr 6 038 Dr 6 113 Dr 250 Required: i. Complete the cash journals for the period ended 31 January 2020. Set up, complete and balance the Bank Overdraft ledger account. Use the proformas set out in the word document answer booklet. [9 marks] ii. Prepare a bank reconciliation statement at 31 January 2020 to reconcile the adjusted ledger balance with the bank statement balance. [6 marks]