I PROVIDED QUESTION 1 AND ITS MEMO PLEASE DO QUESTION 2

24 Marks Question 1 All-In-One Trading started operating on the 01 January 2018. The following is the Trial Balance for the period ending on 31 December 2018 TRIAL BALANCE AS AT 31 DECEMBER 2018 Account Name Motor Vehicle Cost Furniture and Fittings Cost Sales Purchases Machinery Cost Accounts Receivable Accounts Payable Returns Outward DR (N$) 250 000 120 500 CR (N$) 385 200 165 800 24 900 68 700 88 300 1 800 Returns Inward Stationery Expense 11300 91 450 Salaries and Wages Rent Expense 45 600 1 980 Carriage Inward Bank Cash Advertising Carriage outward Bank Charges Provision for bad debts Bad debts 61 200 3 000 300 600 11 680 10 800 450 Page 14 of 16 Interest Income Interest Expense Short-term Loan: 12% Capital TOTAL 2 500 2 990 50 200 200 000 800 000 800 000 The following errors were recorded throughout the financial year of 31 December 2018 a) A debtor that was owing N$ 450 was erroneously written-off as bad debts; b) Carriage inward of N$ 800 was erroneously recorded on purchases account; c) Cash receipt of N$ 1 200 was recorded as bank receipt d) A cheque received from Ms. Namibia in full settlement of her account was recorded in accounts payable, N$ 3 200 e) Bank charge of N$ 500 was recorded as interest expense; f) Interest on loan was not provided for 31 December 2018; g) A cheque received from Mr. AFE of N$ 3 600 in full settlement of his account was omitted from the books (he was owing N$ 4 000); h) Cash of N$ 3 000 was paid to a supplier who we owed N$ 3 500 in full settlement of our account was omitted from the books; i) Stationery purchased of N$ 300 was erroneously recorded as advertising: j) Advertisement of N$ 600 was erroneously recorded as Rent Expense; k) Interest income of N$ 2 500 recorded as current financial year income instead on next financial year income. Required Journalise the above transactions as at 31 December 2018. Page 15 of 16 Rectified Entries uestan Description Debit Credit a Debtors a/c dr S 450 To Bad debts a/ c S 450 b Carriage Inward a/c dr $ 800 To Purchases a/c S 800 c Cash a/c dr $ 1,200 To Bank a/c $1,200 d Accounts Payable a/c dr $ 3,200 To Accounts Receiveable a/c S 3,200 e Bank Charges a/c dr s 500 To Interest expenses a/c s 500 f Interest on loan a/c dr S 2,990 To Interest payable a/c $2,990 g Bank a/c dr Discount allowed a/c dr S 3,600 S 400 To Accounts Receiveable a/c dr $4,000 h Accounts Payable a/c dr S 3,500 To Cash a/c dr To Discount recevied $3,000 $ 500 i Stationery a/c dr S300 To Adveristing a/c S 300 j Advertising a/c dr $ 600 To Rent Expenses a/c 600 k Unearned Interest Revenue S 2,500 To Interest Income a/c $2,500 Question2 Use the information in QUESTION 1 above to prepared the corrected Trial Balance as at 31 December 2018. 27 Marks