The business received the bank statement for the month of November, 2018 and it was showing a bank overdraft of K1,482,000 while the cashbook showed a credit balance of K662,000. Upon comparing the cashbook with the bank statement, the following information was revealed: (a) The balance brought forward from October 2018 in the cashbook should have been K750,000 not K770,000. (b) A cheque drawn for K128,000 for advertising had been incorrectly entered in the cashbook as K125,000. (c) Dividends received in the month of October of K89,000 were credited by the bank but no entries were made in the cashbook. (d) Business rates of K120,000 were paid directly by the bank under a standing order arrangement and no entries have been made in the cashbook. (e) A cheque received from Jojo for K207,000 had been returned by the bank and marked 'insufficient funds'. No adjustment has been made in the cashbook. Page 3 of 4 (f) A cheque for K35,000 for miscellaneous consumables was entered in the cashbook as a receipt instead of as a payment. (g) Cheques received totaling K807,000 had been entered in the cashbook and paid into the bank, but had not been credited by the bank. (h) A cheques drawn amounting to K345,000 had not been presented to the bank for payment. (i) Bank charges amounting to K67,000 appearing on the bank statement have not been entered in the cashbook. Required Write up a revised cashbook, showing an updated closing balance. (10 Marks)