Use the following information from the books of Zondo Legal Practitioners to complete the following: 1.1) Make the suppl

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Use The Following Information From The Books Of Zondo Legal Practitioners To Complete The Following 1 1 Make The Suppl 1 (45.08 KiB) Viewed 12 times

Use the following information from the books of Zondo Legal Practitioners to complete the following: 1.1) Make the supplementary entries in the Cash Receipts Journal and the Cash Payments Journal on 31 December 2020. Close off only the bank column totals in both journals on both journals on 31 December 2020. 1.2) Post the totals of the closed bank column in Cash Receipts and Cash Payments Journals to the Bank Account in the general ledger and balance the Bank Account. 1.3) Prepare Information: A comparison of the back statement from VBS Bank an Cash Receipts as well as Cash Payments Journal on 31 December 2020, reflected the following differences: a) The business bank statement showed a credit balance of R23 916.00 b) The bank had not yet credited a deposit of R 8 900.00 which was made on 28 December 2020. c) The following cheques had not yet been presented to the bank for payment Cheque number 225 - R 620.00 Cheque number 226-R 980.00 Cheque number 22 - R 2 400.00 d) The bank had changed the current account of Zondo Legal Practitioners with the following amounts: Cost of cheque book Service fees R50.00 R240.00 R80.00 Tax Levies e) The bank statement reflected a monthly debit order for R 1 200.00 in favour of Old Mutual for monthly insurance premium. f) A cheque for R 2 400.00 received from a debtor B Gupta was dishonored by the bank due to insufficient funds. j) g) An amount of R 191.00 relating to interest on credit balance (ie interest on favourable bank balance) was credited on the bank statement. h) Another customer of VBS bank, Zanda Ltd withdrew a cheque of R 6 000.00, the bank instead debited the account of Zondo Legal Practitioners. i) The bank account in Zondo Legal Practitioners general ledger account showed a debit balance of R 26 870.00 (this is before any recommended adjustments) Monthly totals in the subsidiary journals before supplementary entries are as follows. Cash Receipts Journal (CRJ) R 35 400.00 Cash Payment Journal (CPJ) R 23 675.00