Dr護19. Following is the Receipts and Payments Account of Super Club for the yearended 31 March 2017Receipts and Payments Accountfor the year ended 31 March 2017CrReceiptsAmt. () PaymentsAmt.To balance b/d (cash) 18.160 By Bank Overdraft14.000To SubscriptionsBy 10% Investments20161.200(30-09-2016)2.00.000201764.8.002018600 66.600To sale of old FurnitureBy Furniture5.960(Cost ? 320)400To Entrance Fees50.000 By Salary20.400To Proceeds from Drama 3.20,000 By Postage4.400To interest on2,000 By Printing and24.160InvestmentsStationeryBy Cost of Drama 120.000By Sundry Expense 5 600By Balance bidicash)524457160457160美You are requested to prepare Income-Expenditure Account of the Club forthe year ending 31-03-2017 after taking into account the followinginformation:(a) On 1 April 2016 the Club Premises stood at 1,00,00010% Investments at 24.000, Furniture at 12.000 and stock ofStationery at 360.(b) The Club had 720 members each paying an annual subscription of ? 100Subscription amounting to 2,000 are still in arrears for the year 2016(c) Salaries paid are for 10 months.(d) Entrance Fees and Surplus of Drama are to be kept in reserve forSwimming Pool(e) Write off 50% printing and Stationery