You are the accountant for Hannah Floors Ltd., and you are preparing adjustments prior to the presentation of year-end financial statements of December 31. Patrice Monty, the bookkeeper, has a habit of recording items in a suspense account if he is unsure about proper classification. He is also prone to making errors himself as he is often distracted by social media interactions. For the year 2018, your analysis of the 'Suspense Account' shows the following:

	Debit	Credit	Balance
March 31	$270,000		Debit $270,000
April 22	170,000		Debit $440,000
July 1	710,000		Debit $1,150,000
November 2		$430,000	Debit $720,000

The entry on March 31 for $270,000 represents a write-down of inventory. The items had been purchased two years ago at a cost of $270,000, but the market price steadily declined this year. This adjustment correctly reduced inventory to the "lower of cost or market." The debit on April 22 is a payment made to Revenue Canada as a result of a tax audit that covered the years 20142017. The entry on July 1 represents the cost to rebuild and repair plant assets damaged by a flash flood. Some of the older employees at the plant remember the last time it happened, 2006, but the damage was not as extensive then. The cost of the fully depreciated plant assets damaged was $500,000. Plant assets are usually depreciated straight-line over 10 years. Finally, Patrice was checking the Pension expense calculation from 2017 and noticed $265,000 of expected return on plan assets was added rather than deducted from the total pension expense schedule. Patrice recorded a $430,000 credit on November 2 to the Suspense Account and a debit to Pension expense to adjust for this discovery.

Required: To analyse each of the above items & prepare a correcting journal entry for each one to reallocate the suspense account. The books have not been closed for 2018. Ignore income tax effects.