Total 83,179 Total 83,179 From the bank statement and cash book of Tom Traders, a wholesaler of tea in Oman - prepare 1-April Balance B/d 20,461 bank reconciliation statement for the month of March 2020 Bank Statement (as on 30 March 2020) Cash Book (Bank column only) Date Particulars Dr Cr Balance Amt in Amt in Date Particulars RO Date Particulars Amt in RO 2020 Amt in RO RO Amt in RO 2020 2020 1-March Balance B/d 32,742 Patrick ( cheque Issued 13-March Patrick (cheque No. 003345827) 11,179 21,563 1-March Balance B/d 32,742 13-March No. 003345827) 11,179 15-March Cash 25,113 3,550 J. Smith ( cheque received Davidson's ( cheque 18-March Salaries 20,586 4,527 13-March No. 00534618) 10,886 15-March Issued No. 003345729) 4,471 20-March Pony Traders (cheque No. 00285119) 7,003 11,530 15-March Cash 3,550 18-March Salaries 20,586 Cherry Traders (cheque No. R. Jones (cheque received Cherry Traders ( cheque 20-March 003354370) 21-March Dividend 7,000 4,530 18-March No. 0063858) 4,470 2h0-March Issued No. 003355370) 7,000 682 5,212 Pony Traders (cheque Electricity bill (cheque 21-March XYZ Traders (cheque No. 00114475) 7,600 12,812 20-March received No. 00285119) 7,003 22-March Isued No. 003345731) 1,651 22-March Electricity bill (cheque No. 003345731) 1,651 11,161 XYZ Traders (cheque Office rent (cheque 22-March Insurance premium paid 1,165 9,995 21-March received No. 00114475) 7,600 23-March Issued No. 003345732) 6,804 (Standing order) Green grass Traders 25-March Bank charges 118 9,877 Alex Trader (cheque (cheque Issued No. 27-March Cash 792 10,669 22-March received No. 00954788) 2,605 26-March 003345735) 4,505 29-March Car Repairs (cheque No. 003345736) 884 9,785 Sony Ltd (cheque received Car Repairs ( cheque 30-March Interest 234 10,019 22-March No. 00576894) 28-March Isued No. 003345736) 3.256 884 30-March Happy Trader (cheque No. 00594788) 7,235 17,254 Machinery purchased Peter. S (Cheque received (Cheque issued No. You are required to: 24-March No. 00768954) 3,040 29-March 003345736) 4,860 1. Update the cash book of The Tom Tea Traders for the month of March 2020, making such entries as are necessary and draw up a bank reconciliation statement as at 31 March 2020 Wages cheque issued which reconciles your new cash book balance with the bank statement balance. 27-March Cash 792 29-March 003345745 778 Happy Trader (cheque 2. How does timing differences require a business to prepare Bank Reconciliation Statement? 30-March received No. 00594788) 7,235 31-March Balance C/d 20,461