3 (15 marks) Read the information below and answer the questions that follow: The following transactions appeared in the accounting records of Dawn Ltd: 1. Bank Reconciliation Statement as at 30 June 2019: Details Balance per bank statement Less: outstanding cheques Cheque no. 007 Cheque no. 008 Add: Outstanding deposit Balance as per Cash Book R R 18 800 (12 200) 7 700 4 500 12 000 18 600 2. Extract from the Bank Statement for the month of July 2019: Details Balance brought forward Cheque no. 007 Receipt ST200 Cheque no. 011 Bank charges Direct deposit Receipt ST300 Cheque no. 010 Cheque no. 012 DR (R) CR (R) Balance (R) 18 800 7 700 11 100 27 600 38 700 5 680 33 020 1470 31 550 3 800 35 350 12 000 47 350 7 200 40 150 3 500 36 650 3. 4. A direct deposit of R3 800 was made by a debtor in settlement of his account. This amount has not yet been updated in the Cash Book. A deposit of R14 500 only appeared in the Cash Book, and is included in the total receipts above. 5. Bank charges as per the bank statement have not yet been recorded in the Cash Book. 6. The following cheques only appeared in the Cash Book for the month of July 2019: Cheque no. 022: R4 800 7. 8. 9. Cheque no. 024: R7 200 Cheque no. 030: R8 100. The bank made an error and incorrectly recorded a deposit of R28 600 as R27 600. It has not yet been corrected. Milpark Education Principles of Accounting ACCP02-5 Assignment August 2022 Page 6 of 7 The bank incorrectly recorded a deposit of R7 950 meant for Dawn Ltd into Down Ltd account. The Cash Book reflected the following amounts: Total receipts: R41 100 Total payments: R26 480. Required: 3.1 Prepare the updated Bank account for the month of July 2019. (6) 3.2 Prepare the Bank Reconciliation Statement for the month of July 2019. (9)