Question 3 (25 marks) The following information has been extracted from the records of Paul for December 2017 Paul Bank account Date Details Date Details Chq No. Amount N$ N$ 01-Dec Balance b/f 164 910 01-Dec Alexander 782 8 570 02-Dec Abel 9 620 08-Dec Burger 1030 14-Dec Barry 783 2 210 Baker 784 5 110 10-Dec Charles 785 970 23 120 17-Dec Cook 14-Dec Delta 3 430 786 4 190 24-Dec Hay 21-Dec Echo 787 2600 3 27029-Dec Rent 23-Dec Cash sales 5 290 30-Dec Fred 190 199 730 31-Dec 222 620 222 620 Standard Bank Paul Bank statement Withdrawals Deposit Balance N$ DateDetails N$ 174 780 01-Dec Balance b/f 02-Dec 780 4 260 163 150 164 910 7 370 02-Dec 781 1 760 02-Dec Deposit 8 570 05-Dec 782 55 870 470 05-Dec Bank charges 20 650 176 520 06-Dec Deposit 10-Dec Standing order- rent 175 150 1 370 2 120 173 030 11-Dec 783 23 120 196 150 13-Dec Deposit 91 040 195 230 5 110 17-Dec 784 4 190 17-Dec Deposit 23-DecDeposit 24-Dec Deposit 28-Dec786 198 500 3 270 5 280 203 780 200 350 3 430 97 080 194 110 3 270 28-Dec Refer to drawer 30-Dec310923 2 970 31-Dec Balance c/f 194 110 Notes: 1. Transactions done on the last day of the month will be honoured by the bank within two days of the following month. 2. A cash sale deposit of N$5 280 was incorrectly entered in the bank account as N$5 290 3. A payment to Burger of N$2 120 was incorre ctly entered in the bank account as 2 210. 4. A payment of N$2 970 was erroneously charged to Paul by the bank. This should be reversed. Requirement: a) Prepare a bank reconciliation statement as at 1 December 2017 (6 marks) b) Update the bank account (cash book) for December 2017. (13 marks) c) Prepare a bank reconciliation statement as at 31 December 2017. (6 marks)