(«a) Explain the term 'Control Account' as used in financial accounting and state FOUR purposes of maintaining control accounts in a business. (8 marks) (b) The Sales Ledger Control Account of Bello Traders showed a debit balance of N156,400 at 31 December 2022. On checking the individual debtor accounts in the sales ledger, the total of balances extracted amounted to N148,750. An investigation revealed the following errors: (i) A credit sale of N4,200 to Mr. Okafor had been correctly entered in the sales day book but posted to the debit side of his personal account as N2,400. (ii) A cash receipt of N3,500 from a debtor had been entered in the cash book but omitted from the sales ledger control account. (iii) The sales day book had been undercast by N2,000. (iv) A debtor's account with a debit balance of N1,800 had been omitted from the list of balances. (v) Discount allowed of N650 had been entered in the individual debtor's account but had not been posted to the control account. (vi) A contra entry of N1,200 had been recorded in the control account only and not in the individual debtor's account. You are required to: (i) Prepare a statement showing the adjusted balance of the Sales Ledger Control Account. (6 marks) (ii) Prepare a statement reconciling the Sales Ledger Control Account with the list of debtors' balances after all corrections. (6 marks)