5.6 After one month’s trading, Deborah’s trial balance as at 31 January 20X1 appeared as follows:

Dr Cr

£

£

Bank 131,380 Capital account 150,000 Rent 12,000 Stock 8,750 Creditors 55,312 Vans 40,120 Sales 39,000 Drawings 6,000 Wages 7,500 Debtors 9,000 Cost of goods sold 29,562 244,312 244,312 The following information is relevant:

1. The rent of £12,000 is in respect of the six months to 30 June 20X1.

2. Telephone charges for the month are estimated to be £100.

Prepare Deborah’s profit and loss account for the month to 31 January 20X1 and her balance sheet as at that date.