Plato Ltd Trial Balance as at 31st October 2009 was balanced by the inclusion of the following debit balance of $5,500 in the Suspense Account Subsequent investigation revealed the following errors 9 Opening Inventory was understated by $5.500 A trade credit of $1,850 received from John Browning in November 2008 has been posted to the credit of John Brown. In recording discount allowed of $1,750 in September 2009, Plato debited of the Discount received account and credited accounts receivable. In preparing the Trial Balance, Plato omitted completely an invoice amounting to $6,700 for insurance. A payment of $978 to Half Moon Hotel in May 2009 has been posted correctly in the Cash Book but as $879 in the accounts payable. The draft accounts for the year ended 30 September 2009 of Plato Ltd show a net loss of $1,000. Required: a) Prepare the journal entries of each transaction to correct each error. (Narratives are not necessary)