Asterix Traders year end was 31 March 2023, and it is now in the process of preparing its annual financial statements. The following pre-adjusted trial balance was made available: Debit Credit R R Vehicles at cost 960 000 Equipment at cost 768 000 Bank 453 696 Accumulated depreciation: Equipment 166 400 Mortgage Bond: Investec 1 152 000 Capital (31/03/2022) 1 200 000 Drawings 328 160 Debtors control 256 896 Allowance for credit losses 25 600 Stock (31/03/2023) 525 600 Pre-paid expenses Accrued income Creditors control 324 800 Accrued expenses Income received in advance Sales 1 623 136 Sales returns 3 936 Carriage on sales 4 288 Carriage on purchases 2 560 Purchases 1 091 200 Rental income 124 800 Commissions 60 672 Insurance 17 600 Credit losses 1 472 Purchases allowances 3 520 Electricity and water 21 120 Salaries 246 400 Depreciation Interest expense 4 680 928 4 680 928 Additional Information: a) On checking the debtors accounts it was found that debt of R2 000 that was previously provided for must be written-off. b) Adjust the allowance for credit losses to 8% of debtors. c) Depreciation is to be raised as follows: - Vehicles: 15% on the straight-line method. The cost in the trial balance relates to a vehicle that was purchased and brought into use on 1 September 2022. - Equipment: 20% on the reducing balance method. d) Rent for the month of April 2023 was received and recorded as income on 31 March 2023. e) Salary of R2 200 has been paid in advance. f) An insurance premium of R300 for the month of March 2023 has not been paid and accounted for at the end of the financial year. g) Commission to the value of R650 has been earned on 31 March 2023 but not yet received. Assume a profit of R215 390 after all adjustments have been considered. REQUIRED a) Prepare the year-end adjusting journal entries. (15) b) Prepare the statement of financial position as at 31 March 2023.