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May I have the answer for this questions 16-Jenny is a trader. Her trial balance at 31 December 20-6 was as follows: Debit $ Credit

May I have the answer for this questions

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16-Jenny is a trader. Her trial balance at 31 December 20-6 was as follows: Debit $ Credit $ Drawings 17000 Capital 1 January 20-6 110 000 Premises 80 000 Revenue 350 000 Fixtures and fittings 14000 Purchases returns 10 000 Motor vehicles 9500 Discount received 4 100 Purchases 280 000 Rent receivable 5 500 Inventory 1 January 20-6 20 000 Trade payables 23 300 Carriage inwards 5000 Bank overdraft 17 200 Operating expenses 12 200 Rates and insurance 5490 Repairs and maintenance 3870 Salaries 41 000 Motor vehicle expenses 2940 Trade receivables 29 100 520 100 520 100 The following additional information is available:wallop brow 1 Inventory at 31 December 20-6 was valued at $24000. 2 At 31 December 20-6 rent receivable due amounted to $500 and salaries due amounted to $3 500. 3 Insurance, $2800, paid during the year was for 14 months to 28 February 20-6. 4 Bank charges amounting to $790 had not been entered in the books. a Prepare Jenny's income statement for the year ended 31 December 20-6 and a statement of financial position at that date

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