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A Company prepared its financial statement for the year ended 31st March, 1994, after transferring the difference in Trial Balance to a Suspense Account which was carried to the Balance Sheet. In the next year the following errors were discovered relating to the year 1993-94 (a) Wages included $ 8,000 towards installation of a new plant on 1st April 1993. The company charges depreciation on plant and machinery @ 15% pa. (b) A cheque of $ 10,800 was paid to a creditor who allowed 10% cash discount but the payment was wrongly posted to purchase account $ 1,080 only without any other entry (c) Sundry Debtors include $ 1,500 which proved irrecoverable but was not written off. A Reserve for Bad Debt was created only on closing debtors. (d) A Bills receivable amount $ 6,000 was discounted for $ 5,800, but the proceeds was posted to Sales Account as $ 580 and no other entry was made in this respect. Give the appropriate Journal entries to rectify the above errors