Question 3 As an accountant for Fathom ltd, you are investigating discrepancies, on 31 December 2020, between the trade payables control account and the total of the list of balances for individual suppliers' accounts. The following information has been found: 1. The trade payable control account shows a balance of 36,000 but total of individual supplier balances is 43,500. 2. A supplier invoice for 4,000 had been included in the individual balances but omitted by mistake from the payable control account. 3. The purchase day book individual amounts for a month were correct but had been overcast by 700 in arriving at the total purchases on credit for that month. 4. A payment to a supplier of 940 had been wrongly recorded in the cashbook as 490. 5. An invoice received from a supplier for 320 was entered into the purchase returns day book as a credit note. 6. An invoice for 550 had been paid twice by mistake. 7. Discounts received of 2,100 had been correctly included in the trade payables control account but reported as a credit in the individual supplier accounts. 8. An agreement to cancel a supplier's credit balance of 3,300 with a debit balance for the same supplier in the receivables ledger has not been recorded at all. a Required: a) Prepare the payables ledger control account, showing the necessary adjusting entries and the corrected balance. (12 marks) b) Prepare the reconciliation of the list of balances to the corrected balance on the payables control account. (8 marks)