The Trial Balance of M/s. Gupta & Sons shows a difference of ₹ 52,200. To prepare the Final Accounts on 31st March, 2022, this difference is placed in a Suspense Account. Afterwards the following errors were disclosed. Pass necessary entries to rectify them and show the Suspense Account.
(i) Purchases Book total had been undercasted by ₹ 20,000.
(ii) A cheque received from Vasudev for ₹ 7,800 had been debited in the Cash Book but not posted in Vasudev’s Personal Account.
(iii) The Returns Outward Book had been overcasted by ₹ 10,000.
(iv) Goods returned by Yash Pal worth ₹ 15,000 have been entered in Returns Outward Book. However, Yash Pal’s Account is correctly posted.
(v) Goods costing ₹ 20,000 were purchased for various members of the staff and the cost was included in ‘Purchases’. A similar amount was deducted from the salaries of the staff members cocerned and the net payments to them debited to Salaries Account.