=+It was agreed that X and Y should each take over the policies on their own lives, and that the policy on the life of Ζ should be surrendered.

Discounts of £100 were received on the payment of creditors. Cash was received on the realisation of assets as follows:

Amount Realised 1959 £

July — Sundry Debtors 1,400 Life Policy Ζ 300 August — Sundry Debtors 1,500 Motor Vehicles 700 September- Stock 2,200 October — Furniture and Fittings 100 November- Plant and Machinery 2,600 are required to: