QUESTION TWO (a) The following extract is from the cashbook of Inonge, a sole trader for the month of March, 2020 and shows the company's bank transactions: Cashbook (bank column only) 'K' *K* 1/3/20 Balance b/f 27,501 14/3/18 payable 4,176 20/3/20 Sales 10/3/20 Receivable 12,069 6,582 16/3/18 Income tax 7,839 19/3/18 Sales tax 2,943 27/3/20 Receivable 21,747 19/3/18 payable 9,870 31/3/18 Balance c/d 43,071 67,899 67,899 Inonge's bank statement for March was received on 2 April and shows the following: Bank statement for month of March 2020 Date Details Debit Credit Balance 01.03.20 Opening balance 22,935 01.03.20 Lodgements 212 7473 30,408 02.03.20 Cheques 148 2907 27,501 10.03.20 Insurance Direct Debit 7239 20,262 14.03.20 Lodgements 200 12,069 32,331 16.03.20 Cheque 152 4,176 28,155 18.03.20 Cheque 154 7,839 20,316 20.03.20 Cheque 156 9,870 10,446 24.03.20 Lodgement 218 6,582 17,028 30.03.20 Bank charges 1,689 15,339 You have been informed that although cheque numbers 212 and 148 appear on the bank statement now, they were passed through the cash book in the month of February 2020. Required: (i) A reconciliation of the opening balances so as to bring them into line as at 1 March 2020. (2marks) (ii) An adjusted cashbook for Inonge as at 31 March 2020. (3marks) (iii) A reconciliation statement of the balance per bank statement to the balance per adjusted cash book as at 31 March 2020. (3marks) 3