he income statement of Jambo Sales indicates a profit of 58,000 for the period ended 31 December 2019. However, this profit has been disclosed before adjustments have been made to the following:

a) A motor vehicle of 100,000 is to be depreciated on a straight-line basis over ten years. The motor vehicle has no residual value.

b) Bad debts of 10,000 have been identified for the period.

c) The provision for bad debts, which is set at 5% of debtors balance, is shown in the balance sheet as 1,500. Debtors at the year-end amount to 50,000 before the bad debt of 10,000 is written off.

d) Accruals of 3,500 for electricity bills and prepayments of 4,000 for insurance for an office building.

Required:

Recalculate Jambo Sales profit for the period ended 31 December 2019 by showing the adjustment to the income statement to account for the above