b- On December 31, 2013 Medo extracted a trial balance and found that it not balance. The debit column totaled $74,600 and the credit column totaled $74,004. Medo entered the difference in a suspense account. Upon investigation he found that the following errors had been made: 1- A purchase for cash of $2,450 had been correctly entered into the cash account but had not been entered into the purchases account. 2- Discounts received of $1,350 had been posted to the debit side of the discounts received account. 3- The purchase of goods for sale of $13,500 paid in cash had been entered in the purchase account as $15,500. 4- The sales day book had been overcast by $1,600. 5- Electricity expenses of $382 paid by cheque had been posted to the debit side of the electricity expenses account as $328. Required: 1- Identify the types of errors noted above. 2- Prepare the journal entries to correct the errors. 3- Prepare the suspense account