QUESTION 1 [25 Marks] You are the accountant of BB Partnership. An extract of the trial balance is provided below as at 30 September 20.1 Details Debit Credit Sales $3,755,200 Purchases $3, 120,000 Inventory (1 October 20.0) $200,000 Creditors $195,000 ) Edit Footer Buildings $900,000 Machinery $120,000 Long term loan $400,000 Rent expense $20,000 Rental income $40,000 Bank $32,200 Bad debts $3,600 Salaries $181,000 Petty cash $4,400 Discount allowed $12,000 Capital: E Bridge $400,000 S Benade $600,000 Debtors $168,000 Term deposit $50,000 Drawings: E Bridge $108,000 S Benade $111,000 Discount received $10,800 Investment $370,800 $5,401,000 $5,401,000 Additional information: 1 . The value of inventories on 30 September 20.1 was $ 170 000. Net realisable value was $150 000