Master Ring Trading, a domestic snack food distributor located in the Perak state of Malaysia, has recently come to you for professional advice. A draft Trial Balance as at 31 December 2019 was presented to you:

Master Ring Trading Draft Trial Balance as at 31 December 2019 Accounts Debit Credit (RM) (RM) Accumulated depreciation as at 1 January 2019: Machinery 180,000 Motor vehicles 110,000 Allowance for doubtful debts as at 1 January 2019 5,000 Bank overdraft 5,120 Capital as at 1 January 2019 511,280 Carriage outwards 66,000 Cash in hand 28,500 Commission revenue 3,500 Interest on loan 44,400 Inventory as at 1 January 2019 100,000 Loan from Corona Bank @ 10% 444,000 Machinery 900,000 Motor vehicles 500,000 Payables 221,000 Prepaid commission revenue as at 1 January 2019 1,500 Prepaid rental revenue as at 31 December 2019 2,000 Purchases 666,000 Receivables 153,000 Rental expense 77,000 Rental revenue 26,000 Return inwards 9,100 Return outwards 6,600 Sales 998,000 1,640,500 3,417,500