EXERCISE 3 - 20 MARKS SINGLE ENTRY AND ACCOUNTS FOR CLUBS AND ASSOCIATION The Emotional Wellness Association led by its chairman by the name of Samad Stress is closing its account for the year 2020. After meeting with his treasurer Miss Nur Atikah, he laid down all the details regarding the receipts and payment occurred during the year of 2020. Since Nur Atikah is a graduate from the International Islamic College, Samad Stress has full confidence that Nur Atikah is capable to settle all the accounts. She is now stress...... Emotional Wellness Association Receipts and Payment Account Balance bid 52,400 Purchase of stress equipment 40,000 Registration fee 12.000 Caf creditors 24,200 Membership fee 83,000|ym creditors 13.800 Gym sales 38,000 Caf purchases 37,600 Caf sales 96,000|Gymn purchases 16,300 Gym debtors 24.700 Utilities 21.500 Caf debtors 28,400 Rental 36,000 Gencral donations 18,800 Club activities 47,300 Donations for Stress Clinics 25,000 Salury and allowances 72,000 Balance cd 378,300) 69,6001 378,300 Allocation of expenses Club Gym Cafe Utilites 20%20% 60% Rental 20% 30% 50% Salary and allowance 30% 30% 40% Additional information regarding to the accounts and the allocation of expenses are as below, Accounts balances 2019 2020 Debtors - Gym 12,500 14,800 Cafe 3.700 10.200 Creditors - Gym 3.000 1.800 - Card 1.800 4,100 Inventory Gym 800 1.600 - Cafe 3.600 5,400 Required; B. Income and expenditure accounts for the association for the year ended 31 December 2020. (7 marks)