2 Part A The Fitnesse Club was formed some years ago. In addition to providing sports facilities for members, the club also has a shop selling sports clothing. The following information was available for the year ending 31 December 2021. Balance at bank on 1 January 2021 Insurance paid on 1 January 2021 for 18 months to June 2022 Purchase of new sports equipment by cheque on 30 November 2021 Subscription received in December 2021 for the year ending 31 December 2022 Accumulated depreciation of sports equipment at 31 December 2021 Cost of sports equipment at 31 December 2021 Profit from club shop for the year ending 31 December 2021 Bank overdraft on 31 December 2021 REQUIRED RM 400 1,800 3,500 500 800 8,000 600 2,500 a) Complete the table to indicate how each of the following items would be recorded in the financial statements of the Fitnesse Club for the year ending 31 December 2021. Some items may appear in more than one financial statement. The first one has been completed as an example. Receipts and payments Income and expenditure Statement of financial account account position Item RM RM RM RM Balance at bank on 1 January 2021 400 400 Insurance paid on 1 January 2021 for 1,800 18 months to June 2022 Purchase of new sports equipment 3,500 500 by cheque on 30 November 2021 Subscription received in December 2021 for the year ending 31 December 2022 Accumulated depreciation of sports equipment at 31 December 2021 800 Cost of sports equipment at 31 8,000 December 2021 Profit from club shop for the year 600 ending 31 December 2021 Bank overdraft on 31 December 2,500 2021 (11 marks) b) The treasurer is concerned that the overdraft of the Fitnesse Club is increasing each year. He has recommended that the club should hold fund-raising activities to reduce the club's bank overdraft. Suggest ONE other way in which the bank overdraft of the club could be reduced