The following information refers to the electricity account in the ledger of John Woodstock. On 1 January 20-7 there was an unpaid bill for electricity of £246. During the year the following payments were made for electricity, by cheque: LO2

£

15 Jan 246 19 Apr 356 16 Jul 242 18 Oct 274 On 31 December 20-7 there was an electricity account, outstanding of£382.

You are required to prepare the electricity account, clearly showing the amount to be transferred to the profit and loss account for the year ended 31 December 20-7 and the amount to be carried forward to the next financial year.