Required : 

a) Explain  why   cheque  #  55713  was  posted  a  second  time  in the  bank statement, this time  with  the  term  'Refer  to Drawer'  

b) What  does  the  transaction  called  Credit  Transfer as shown  in the  bank statement represent?

c) Write  up  the  updated cashbook  and  the  bank  reconciliation statement for the  month?

The Sunshine Jetsetter has supplied the following banking information for the month of May 2017: DATE DETAILS May-01 Balance b/d May-04 Sales (34911) May-11 Earl Chin (55713) May-18 Wayne Moss (48900) May-24 The Palms (30021) May-29 Fem Brook (81127) Jun-01 Balance b/d DATE DETAILS May-01 Balance b/d May-08 45233 May-10 34911 The Bank Account May-12 45234 May-18 55713 May-20 45236 May-22 Standing Order (1) May-23 48900 May-24 Direct Debit May-25 45239 AMT ($) DATE DETAILS 65,000 May-01 Insurance (45233) 40,000 May-02 Utilities (45234) 55,000 May-05 Office Supplies (45235) May-11 Rex Securities (45236) 30,000 May-16 Inter Comm Tech (45237) 70,000 42,500 May-22 Media Partners (45238) May-24 Wages (45239) 302,500 86,800 The bank statement for the corresponding period was as follows: DR CR 12,000 25,750 15,000 30,000 May-30 Strata Managers (45240) May-31 Balance c/d 35,000 40,000 45,000 May-27 Standing Order (2) May-27 Credit Transfer May-28 55713 ( Refer to Drawer) 55,000 May-30 Bank Charges 5,200 40,000 55,000 BAL 50,000 65,000 53,000 93,000 67,250 122,250 107,250 77,250 30,000 107,250 72,250 32,250 (12750) 37,250 (17750) (22,950) AMT (S) 12,000 25,750 20,000 15,000 22,000 33,450 40,000 47,500 86,800 302,500