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QUESTION 3 (20 MARKS) 3.1 REQUIRED Use the information provided below to answer the following questions. 3.1.1 Prepare the Bank account for April 2022 in the ledger of Hyper Traders showing all the entries that would have been made in the cash joumals. Clearly show the contra account for each entry. Balance the Bank account. 3.1.2 (7 marks) Prepare the Bank Reconciliation Statement as at 30 April 2022. (3 marks) INFORMATION The information provided below was provided by Hyper Traders. 1. The bank account in the General Ledger of Hyper Traders refiected a favourable balance of R74 400 on 30 April 2022, before the bank statement for April 2022 was received. 2. The bank statement showed a favcurable balance of R40 740 on 30 Aprii 2022. 3. The following entries for April 2022 appeared on the bank statement and must now be recorded: 3.1 Service fees, R2 800 3.2 Cash deposit fee, R1 600 3.3 Credit card commission, R1 440 3.4 Interest on credit balance, R400. 4. An electronic funds transfer for R12 800, issued for a printer purchased from Mellow Suppliers, was incorrectly entered in the Cash Payments Joumal as R1 280. The error must now be corrected. 5. The bank statement erroneously reflected a deposit of R2 000 that should have appeared on the bank statement of another client of the bank. 6. The April 2022 bank statement reflected a debit order in favour of eThekwini Municipality for rates and taxes, R19 200. No entry was made for this. 7. The bank credited the account of Hyper Traders with interest on fixed deposit for one month on the fixed deposit balance of R100 000 at an interest rate of 6% per annum. This must now be recorded

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