Gce Model Questions Vol1 2023 Financial Accounting Question 30

The following journal entries were recorded in March:\n1. 1 Mar - Purchase of inventory on credit: Dr Inventory \(\pounds5,000\), Cr Accounts Payable \(\pounds5,000\).\n2. 15 Mar - Cash sale of goods: Dr Cash \(\pounds7,200\), Cr Sales \(\pounds7,200\); Dr Cost of Goods Sold \(\pounds4,800\), Cr Inventory \(\pounds4,800\).\n3. 30 Mar - Payment to a supplier of \(\pounds3,000\) was entered as Dr Cash \(\pounds3,000\) and Cr Accounts Payable \(\pounds2,800\) (the credit was understated by \(\pounds200\)).\nAfter posting, the trial balance shows a credit balance of \(\pounds200\) in the Suspense account. Assuming the only error is the March 30 entry, (i) state the correct journal entry that should have been made, and (ii) indicate the amount that must be transferred from the Suspense account to correct the trial balance.