QUESTION THREE (15 MARKS) The cashbook column of MKU Traders Company Ltd. had an overdraft of Sh.532, 400 as at 31 October 2019, which did not agree with balance as per bank statement of the same date. On checking through the relevant records and documents, some details were established as shown below: 1. Bank charges and interest on overdraft as per the bank statement amounted to Sh. 12,450 and Sh. 135,480 respectively. 2. A debtor deposited Sh.254, 500 to the bank direct. 3. Insurance premium of the mortgaged property amounting to Sh.35,485 was paid direct by the bank. 4. Standing orders of Sh. 138,000 have been effected by the bank. 5. Cheques for Sh. 354,890 which were banked on 29 October 2019 were credited by the bank on 5 November 2019. 6. Cheques drawn by the company amounting to Sh.745, 964 had not been presented for payment as at 31 October 2019. 7. A cheque for Sh. 74,500 was debited by the bank as Sh. 47,500 . 8. The payments side of the cashbook was undercast by Sh. 32,000. 9. The bank had debited the account with another customer's cheque of Sh.27, 500 but had not yet corrected the mistake on 31 October 2019. Required: a) Make adjustments in the cash book and show the adjusted cash book balance. (8Marks) b) A bank reconciliation statement as at 31 October 2019. (7Marks)