Shakir started trading in the year ended 31 August 2023 but did not keep proper books of account. His assets and liabilities at 1 September 2023 are as follows. $ Motor vehicle 9500 Inventory 1240 Cash at bank 1682 Trade payables: Latif 200 Harrison 237

1. (a)(i)Prepare the journal for Shakir's opening entries at 1 September 2023. A narrative is not required. Shakir Journal Date Details Debit $ 2023 1 Sep Credit $[3]
2. (a)(ii)State two advantages of maintaining double entry records. 1 2[2]
3. (b)During September 2023, the following transactions took place. Sept 2 Paid rent, $420, by credit transfer 4 Withdrew cash, $350, from the bank for business use 7 Paid Latif, $194, by telephone transfer, in full settlement of the amount owing at 1 September 2023 10 Sold goods on credit, $195, to Sydney 12 Paid $161, cash, for wages 17 Cash sales, $290, were paid directly into the bank account 28 Received a cheque, $100, from Sydney 29 Paid $95 to Harrison, by electronic transfer, having deducted $5 cash discount from the amount due REQUIRED Prepare Shakir's cash book on the page opposite. Balance the cash book and bring down the balances at 1 October 2023. Shakir Cash Book Date Details Discount Cash Bank Date Details Discount Cash Bank allowed $ $ received $ $ $[11]
4. (c)Shakir received a bank statement dated 30 September 2023. The bank statement showed that Shakir had $763 in the bank account. On comparing the bank statement to his cash book, Shakir noted the following. Bank charges, $35, were charged by the bank in September. Cash Sales, $175, had been paid for by credit transfer but not recorded in the cash book. The cheque received from Sydney had not yet been cleared by the bank. The cash sales, $290, had been omitted from the bank statement in error. REQUIRED Calculate the corrected bank balance.[4]