Question 5 - Accounting errors (14 marks) You have extracted a trial balance and drawn up financial statement for the year ended 31 December 2011. There was a shortage of N$ 292 on the credit side of the trial balance, a suspense account was opened for that amount. During 2012, the following errors made in 2011 were located: i) N$55 received from sales of old office equipment has been entered in the sales account. Purchases had been overcast by N$60. A private purchase of N$115 had been included in the business purchases. iv) Bank charges N$38 entered in the cash book have not been posted to the bank charges account. v) A sale of goods to B Cross N$690 was correctly entered in the sales book but entered in the personal account as N$960. Required: a) Show the requisite journal entries to correct the errors. (10 marks) b) Write up the suspense account showing the correction of the errors. (4 marks)