Question 3 Cash and Bank (9 marks): Gold Medal Limited needs your help with preparing its bank reconciliation at the end of August 2021 and has provided the following information to assist you in doing this: Bank statement balance (1 August 2021). $12.000 Bank statement balance (31 August 2021) $15.000 Cash balance per the general ledger $13,720 Items discovered on bank statement: Returned NSF cheque $200 Collection of electronic funds transfer $600 Items not included on bank statement, but included in the general ledger: Outstanding cheques $2,400 Deposits in transit $1.700 A cheque for $350 dated 7 August 2021 cleared the bank on 23 August 2021. Gold Medal Limited recorded this cheque, which was a payment on account, for $530. REQUIRED: Prepare: a) The journal entries required. (4 marks) b) The T-Account in the general ledger for cash. (1 mark) c) The August bank reconciliation. (4 marks) 5 Question 3(a) - 4 marks Prepare the journal entries required. Complete the journal entry by entering in the boxes. Not all boxes need to be completed. Account Name Account Name Debit Credit Question 3(b) - 1 mark Prepare the T-Account in the general ledger for cash. The table below illustrates what should go in each column of the "T" account. You do not need to worry about the "underline" for the total. Not all boxes need to be completed. Debit side Cash Credit Side Debit $ Credit $ Cash 7 Question 3(c) - 4 marks Prepare the August bank reconciliation. Complete the reconciliation by entering in the boxes. Not all boxes need to be completed. You do not need to worry about the "double-underline" for the total. Gold Medal Limited Bank Reconciliation as at 31 August 2021 $