Nurvish, who does not keep proper records for his business, supplies the following information. In the year
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Nurvish, who does not keep proper records for his business, supplies the following information.
In the year ended 30 June 2004, Nurvish paid suppliers $54 000.
Nurvish sells his goods at a gross profit margin of 40%.
On 17 January 2004, Nurvish's premises were flooded and stock that cost $5000 was damaged and could only be sold at half cost price.
In the year ended 30 June 2004, Nurvish took goods which cost $1300 for his personal use.
Required
Prepare Nurvish's Trading Account for the year ended 30 June 2004.
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