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Question 2 (9 marks) You are the bookkeeper of Mel Traders. You undertake a bank reconciliation at the end of every month. Mel Traders received its bank statement for the month ending 31 May 2021. The bank reconciliation at the end of April showed a deposit in transit of $11,700 and two outstanding cheques (no. 663 for $3,060and no. 671 for $6,300). The adjusted cash balance in the entity's records was $106,305 debit at the end of April. Below are the entity's May bank statement and the entity's book records that indicate the deposits made and cheques written during the month of May: AU Bank - Bank Statement For the period 01/05/2021 - 31/05/2021 Mel Traders Dr Cr Balance $ Balance brought CR 103,965 forward May Deposit 11,700 115,665 CR 3 May Deposit 10,620 126,285 CRMay Cheque # 682 4,680 121,605 CR May Deposit 6,120 127,725 CR May # 671 6,300 121,425 CR May Deposit 7,560 128,985 CR May Deposit CR 3,780 132,765 May # 684 6,300 126,465 CR May # 683 CR 15,300 111,165 LL May Deposit CR 14,580 125,745 May # 687 13,320 112,425 CR May Deposit CR 5,040 117,465 2 May # 685 CR 12,240 105,225 2 May Deposit CR 13,680 118,905 2 May # 686 CR 11,340 107,565 3 May # 680 CR 7,740 99,825 WU May interest CR 345 100,170 LU May Transaction fees CR 195 99,975 Mel Traders' Book Records Date Deposits made Cheques written $ No. May 3 10620 4320 679 6 6120 7740 6807560 6210 681 12 # 3780 4680 687 15 14580 15300 683 20 5040 6300 684 26 13680 12240 685 29 11340 6480 686 $ 72,720 13320 687 $ 76,590 The cash at bank account balance on 31 May was $102,435. In reviewing cheques, a mistake was discovered: Cheque no. 686, written for insurance expenses of $11,340, was recorded in the general journal as $6,480. Required: a) As the entity does not use special journals, prepare the necessary general journal entries to bring the cash at bank account up to date as at 31 May 2021. (3 marks) b) Prepare a bank reconciliation statement for Mel Traders at 31 May 2021. Please ensure you indicate the balance of each amount with either a debit or credit in the bank reconciliation statement. (6 marks)