7. The credit side of the trial balance of Dede Enterprise as at 30th November 2004 exceeded the debit side by GH600. The net profit declared for the year ended 30th November 2004 was GH16,000. The following errors were later discovered: Overcast in sales journal Rent was understated in the trial balance by Wages paid, GH3,000 was recorded in wages account as A cash payment to a creditor was entered in the cash book only Complete omission of drawings by cheque from the books A purchase of goods on credit, GH950 was entered in the book as Discount received was undercast by You are required to (a) make journal entries to correct the errors, GH 700 200 3,500 300 150 590 100 (b) show the Suspense Account, (c) prepare a statement showing the adjusted net profit. (GBCE May 2006)