Ton 31 March, 2020 the following Trinh Balance was prepared from the banks of ManpreetCredit Balances3,400 Capital21,700 Discount received2.000Drawings4,200 Bank Loan10 000Cash ar Bank2,470 Purchases ReturnSTDWagas31,250 Sales191,940Discount Allowed2640 Sundry Creditors12.450Bani Charges90 Provision for Doubtful Debts900Salanes5610Purchases132,700Opening Stock40,200Cash in Hand150Sales Return1.250Carage Inwards3,400Machinery14.600Sundy Debtors43.80031 Debts1.000* Insurance1250Rent2.450Bils Receivable2,500Advertisement3,5003,18,1603.18.180Prepare Trading and Profit and Loss Account for the year ended 31st March, 2020 and alsothe Balance Sheet as nt that date after making the following adjustments(1) Closing Stock at cost was 35,000 whereas its net realisable value (market value)was 30,000(ID A new machine was purchased for? 3,000 on 1st October, 2019 but it was not paid forand no entry was passed in the books.(ii) Wages include 500 paid for the installation of machinery(w) Provision for Doubtful Debts was raised to ? 1.100 and further bad debts of 300 werewritten off.(1) In the month of March, 2020, a fire broke out and destroyed stock to the value of28,000. The insurance company admitted claim for loss of stock to the tune of 5.000only and the amount was paid in April, 2020y Outstanding wages were ? 700 while outstanding salaries amounted to 500(8) Prepaid insurance was 250 and prepaid advertisement ? 500.fuit Machinery was depreciated by 10% and furniture by 15​