On $1$ January $2003$; Hassan and Kamau entered into a joint venture to buy and sell goods. It was agreed that Hassan should receive a commission of $2\%$ on all sales in consideration for which he was to bear all losses from bad debts. Profits and losses were to be shared equally.

The following transactions took place:

$2$ January $2003$: Hassan purchased goods for Sh$.680,000$ paying Sh$.480,000$ in cash and accepted two bills of exchange, one for Sh$.80,000$ and the other for Sh$.120,000.$

$3$ January $2003$: Hassan sent to Kamau goods which had cost Sh$.275,000$ and Kamau transferred Sh$.350,000$ to Hassan in cash.

$9$ January $2003$: Hassan sold goods to Otieno for Sh$.42,000$ and to Wafula for Sh$.25,000$ and they accepted bills of exchange for the amounts respectively due from them. Hassan endorsed both bills to Kamau who discounted them incurring discounting charges of Sh$.2,000.$

$3$ February $2003$: Hassan sold goods for Sh$.180,000.$ On delivery, the customer rejected goods invoiced at Sh$.9,000$ and these goods were collected by Kamau who sold them to another customer for Sh$.11,000.$

$11$ Feb $2003$: Otieno met his bill but Wafula$$s bill was dishonoured. Wafula could not meet his debt and it was written off as a bad debt.

$5$ March $2003$: Kamau paid the bill for Sh$\mathrm{.}80,000$ which had been accepted by Hassan and Hassan paid the second bill for Sh$.120,000.$

$20$ March $2003$: Hassan sold the remainder of the goods in his possession for Sh$.291,000$ and Kamau$$s sales on the same date amounted to Sh$.340,000.$ Bad debts $($apart from the amount due from Wafula$)$ were Sh$.4,200$ of which Sh$.3,000$ was in respect of sales by Hassan.

On $30$ April $2003,$ the venture was closed. Kamau took over the stock in his possession at a valuation of Sh$.50,000$ and the sum required to settle accounts between the venturers was paid by the relevant venturer.

Required:

$($a$)$ Joint venture accounts which would appear in the books of Hassan and Kamau for the period ended $30$ April $2003.(14$ marks$)$

$($b$)$ Memorandum joint venture account showing the distribution of profit for the period ended $30$ April $2003.(6$ marks$)$