WESTERN PRODUCTS LIMITED You have just joined Western products Limited as a Finance Manager, on your first day of joining you viewed the trial balance of the company and have detected that there is a short credit of 6,264 as at June 30, 2017 A suspense account was opened for the difference and the profit for the year was then calculated at 956,180 Upon investigation, you discovered the following errors and adjusrtments were discovered: An invoice of 3,700 was debited to purrchases but the goods were received after year - end and were not included in the closing inventory. 1) 2) Store equipment costing 8,100 and having a book value of 3,600 was sold for 2,500. Cash was debited and store equipment was credited. No other entries were made. 3) A cheque of 1,850 received from a customer was dishonoured on June 25,2017 but no entry was made in the books. Cash there against was received after year - end. 4) Purchase of office equipment costing 15,200 was entered in the purchases account. Depreciation on office equipment is provided at the rate of 10%. 5) A purchase invoice of 197 was debited to the supplier account as 917. 6) Purchase returns book was under - casted by 650. 7) The opening balance of furniture account was brought forward as 18,300 instead 13,800. Depreciation on furniture is provided at the rate of 10%. 8) A balance of 730 in the sales ledger is to be offset against a balance of 880 in the purchase ledger. Required: a) Prepare Journal entries to the adjust the above items b) Recalculate the net profit for the year.