From the following balances, prepare the trading and profit and loss account and balance sheet as on March 31, 2014
Debit Balances	Amount	Credit Balances	Amount
Drawings	6,300	Credit	150,000
Cash at Bank	13,870	Discount Received	2,980
Bills Receivable	1,860	Loans	15,000
Land and Building	42,580	Purchases Return	1,450
Furniture	5,130	Sales	281,500
Discount allowed	3,960	Reserve for Bad Debts	4,650
Bank Charges	100	Creditors	18,670
Salaries	6,420
Purchases	199,080
Stock(opening)	60,220
Sales Return	1,870
Carriage	5,170
Rent and Taxes	7,680
General expenses	3,630
Plant and Machinery	31,640
Book Debts	82,740
Bad Debts	1,250
Insurance	750
	474,250		474,250
Adjustments
1. Closing stock Rs 70,000
2. Create a reserve for bad and doubtful debts @10% on book debts
3. Insurance prepaid Rs. 50
4. Rent Outstanding Rs. 150
5. Interest on loan is due @6%p.a.