PLeasePlease solve both parts as both tasks are inter-related... Thanks

Happy Pictures - Policy Procedures and Guidelines for payment procedures Accounts are paid by BPAY, electronic transfer or cheque. A supervisor might be able to authorise payments up to $1,000. A manager might authorise amounts up to $10,000 while a director will perhaps be required to authorise amounts in excess of this. If you identify any discrepancies between monies owed and purchase activity statement, you will need to check the tax invoices/receipts, the balance of the activity statement, and correct it as soon as you find the discrepancies, and notify the creditor/supplier immediately. In the month of December Happy Pictures Ltd has made few purchases from a supplier Canvas & Co Ltd for the framing materials. Tax Invoice: 11 Canvas & Co Ltd 28 Collins St Melbourne VIC 3000 Phone (03) 9292 8765 TO: Happy Pictures Ltd 88 Swanston St Melbourne, VIC 3000 Date: 2 Dec 2021 Qty Item Number Description Terms: 30 days Unit Price Inc GST Total Inc GST Tax Code 20 WF0001 22.00 440.00 GST Wooden Frame Metal Frame 20 MF0004 11.00 220.00 GST Amount of GST in this invoice: $60.00 $660.00 Tax Invoice: 12 Canvas & Co Ltd 28 Collins St Melbourne VIC 3000 Phone (03) 9292 8765 TO: Happy Pictures Ltd 88 Swanston St Melbourne, VIC 3000 Date: 8 Dec 2021 Qty Item Number Description Terms: 30 days Unit Price Inc GST Total Inc GST Tax Code 10 WF0001 22.00 220.00 GST Wooden Frame Metal Frame 10 MF0004 11.00 110.00 GST Amount of GST in this invoice: $30.00 $330.00 Tax Invoice :13 Canvas & Co Ltd 28 Collins St Melbourne VIC 3000 Phone (03) 9292 8765 TO: Happy Pictures Ltd 88 Swanston St Melbourne, VIC 3000 Date: 20 Dec 2021 Qty Item Terms: 30 days Unit Price Inc Description Total Inc GST Tax Number GST Code 30 WF0001 22.00 660.00 GST Wooden Frame Metal Frame 30 MF0004 11.00 330.00 GST Amount of GST in this invoice: $90.00 $990.00 As a bookkeeper of Happy Pictures Ltd, you also have received the Summary Purchase Activity Statement in the month of December 2021 from the above invoices that you have made purchases and receiving the frame materials from Canvas & Co supplier. Here is Purchase Activity statement received with the outstanding balances that needs to be paid to the Canvas & Co Ltd. Canvas & Co Ltd Purchase Activity Statement Date 31 Dec 2021 Customer - Happy Pictures Ltd Amount Owed 1 Dec $ 2,100.00 Balance owed in November 2 Dec Invoice #11 $ 660.00 $ 2,760.00 $ 3,090.00 8 Dec Invoice #12 $ 330.00 20 Dec Invoice #13 $ 999.00 $ 4,089.00 The Accounts Payable Clerk has also prepared the summary of the Accounts payable ledger that you owe to Canvas & Co Ltd supplier. Accounts Payable Ledger - Canvas & Co Ltd Date Particulars 01/12/2021 Balance Debit Credit Balance 2,100 Cr 02/12/2021 Purchase Invoice # 11 (incl GST) 660 2,760 Cr 08/12/2021 Purchase Invoice # 12 (incl GST) 330 3,090 Cr 20/12/2021 Purchase Invoice # 13 (incl GST) 990 2,100 Cr Task 3 On reconciling your Accounts Payable Statements of outstanding balances, there is a discrepancy/incorrect entry between purchase statement activity and the invoices. Make a record in the space below of any discrepancy /incorrect entry that you have identified. Ensure that you specify the type of error. Answer: Identify the error and correction required Enter the correct record entries of the Accounts Payable Ledger and total balance below according to organisational Happy Pictures policies, procedures, and guidelines. Accounts Payable Ledger - Canvas & Co Ltd Date Particulars Debit Credit Balance Balance 2,100 Cr 01/12/2021 02/12/2021 Purchase Invoice # 11 (incl GST) 08/12/2021 Purchase Invoice # 12 (incl GST) 20/12/2021 Purchase Invoice # 13 (incl GST) After contacting and amending the corrected statements of outstanding balances from suppliers above, on 22 December Happy Pictures decide to prepare the cheque requisition slip and pay Canvas & Co for the total amount outstanding. Task 5 Obtain statements of total outstanding balances and prepare creditor total outstanding payment in the cheque requisition slip below and obtain authorisation for the cheque requisition to process the payment from designated personnel according to the company policy and procedures. Answer: Happy Pictures LTD CHEQUE REQUISITION SLIP invoice are accurate and price has been agreed to. I certify the services described on the attached Supplier Name: Canvas & Co Reason for expenditure Amounts include GST Date: Authorized by