Following is the Receipt and Payment Account of Indian Sports Club, prepared Income and Expenditure Account, Balance Sheet as on December 31, 2017: Receipt and Payment Account for the year ending December 31, 2017 Receipts Amount Rs Payments Amount Rs Balance b/d 7,890 Salary 11,000 Subscriptions 52,000 Electric charges 5,500 Life member ship fee 2,200 Billiard Table 17,500 Entrance fee 3,200 Office expenses 4,100 Tournament fund 26,000 Printing and Stationery 2,300 Locker Rent 1,250 Tournament expenses 18,500 Sale of old sports goods (Costing Rs 2,200) 2,500 Repair of ground 2,000 Sale of Old Newspaper 750 Furniture purchased 7,700 Legacy 37,500 Sports equipments 12,000 Cash in Hand 12,690 Cash at Bank 10,000 Fixed Deposit (on 1.10.17 for 10% p.a) 30,000 1,33,290 1,33,290 Other Information:Subscription outstanding was on December 31, 2016 Rs 1,200 and Rs 3,200 on December 31, 2017. Locker rent outstanding on December 31, 2017 Rs 250. Salary outstanding on December 31, 2017 Rs 1,000.On January 1, 2017, club has Building Rs 36,000, furniture Rs 12,000, Sports equipments Rs 17,500. Depreciation charged on these items 10% (including Purchase).