Learn More COMO 6,350 45,500 ake a quick edit before renewing your subscription, learn more about the Office Web Apps. Discount received Accounts receivable 43,800 Accounts payable Cash 74,370 Loan from Public Bank Commission revenue Carriage inwards 13,500 Telephone and internet charges 5,430 Advertising expense 35,250 872,800 20,000 5.100 872.800 The following additional information is available as at 31 December 2019: i. Inventory as at 31 December 2019 was valued at RM19,040. ii. The owner took RM2,500 to pay his son's hospital bill. 111. The owner has decided to write off an additional of bad debts amounting to RM2,170. iv. Equipment is depreciated at 20% per annum using reducing balance method while motor vehicle is depreciated at 20% per annum on cost using straight line method. v. The prepaid insurance is for a 12-month policy purchased by cash on 1April 2019. The policy is effective from 1 April 2019. vi. Interest on loan from Public Bank at 6% per annum has not been paid. vii. Telephone and internet charges outstanding amounted to RM1,500. Question 4 (30 Marks) The following Trial Balance is extracted from the books of Smile Enterprise, a sole trader as at 31 December 2019 Debit (RM) Credit (RM) Purchases and Sales 181,550 474,600 Capital 300,000 Motor Vehicle 260,000 Prepaid insurance 24,000 General expenses 1,250 Motor Vehicle maintenance 2,370 Returns inwards 5,630 Returns outwards 5,250 Equipment 80,000 Accumulated depreciation Equipment 16,000 Rent expense 33,000 Salary expense 74,500 Inventory 1st January 2019 21,450 Drawings 12.440 Discount allowed 4,260 Discount received 6,350 Accounts receivable 43,800 Accounts payable 45,500 Cash 74.370 Loan from Public Bank 20,000 Commission revenue 5,100 Carriage inwards 13,500 Talanhana and internat charmar 5420 7.789 characters. Protected View