QUESTION 4 Lesley Cheung records all her bank and cash transactions in a three-column cash book. At 1 August 2021 her cash in hand was RM204 but she had a bank overdraft of RM5,076. The following transactions occurred during the month of August 2021: Date Transaction 2 Aug A cheque was received from Shakti & Son in full settlement of a debt of RM520 deducting 5% cash discounts. (All amounts are pre-discount). 8 Aug Cash sales paid direct to bank RM6,258. 10 Aug Paid Sino & Bro by cheque RM225. 12 Aug Paid RM105 cash for cleaning materials. 14 Aug Paid B. Lotte by cheque in settlement of an amount owed to him of RM400 deducting 3% cash discounts. (All amounts are pre-discount). 17 Aug Drew cheque for office cash RM450. 19 Aug Cash sales received of RM3,360. 20 Aug Received commission in cash RM180 and paid directly into the bank. The cash sales received on the previous day was also banked. 22 Aug Paid cleaners wages in cash RM105. 24 Aug Paid insurance premium by cheque RM441. 26 Aug Received a cheque from B. Chen in settlement of his account RM2,160 deducting 5% cash discounts. (All amounts are pre-discount). 28 Aug Paid RM120 cash for general expenses. 29 Aug Paid G. Wall by cheque in full settlement of the RM800 balance of his account deducting 3% cash discounts. (All amounts are pre-discount). 30 Aug Lesley Cheung wrote a cheque of RM500 to pay for his personal medical insurance. (All amounts are to be rounded to the nearest Ringgit) Page 6 of 9 Required a) Write up the 3-column cash book for the month of August 2021. Balance the cash book and bring down the balances at 1 September 2021. (14 marks) On 4 September 2021, Lesley Cheung received a bank statement from the bank for the month of August 2021 and it was found that the balance of his cash book and the bank statement was different by the following transactions: Bank Statement for the month of August 2021 August Details Dr (RM) Cr (RM) Balance (RM) 1 Balance b/d (5,076) 2 Deposit 494 (4,582) 8 Deposit 6,258 1,676 10 Cheque 225 1,451 14 Cheque 388 1,063 17 Cheque 450 613 20 Deposit 180 793 20 Deposit 3,360 4,153 24 Cheque 441 3,712 29 Direct credit from SK 4,062 30 Bank interest 65 3,997 350 b) Based on the information obtained from the bank statement, update the cashbook for the month of August 2021. (2 marks) c) Perform the bank reconciliation statement as at 31 August 2021. (4 marks) [Total 20 marks)