QUESTION 1 BSP Recreation Club is a club established by the residents of Bandar Seri Putra, Kajang. The following information is taken from the club's accounting book for the year ended 30 June 2020: e 1. Balance of assets and liabilities: Banke Souvenir creditors Club buildings Equipment Stock of souvenirs Overdue fees Stationery stock Accrued payment 1 July 2019 30 June 2020 8,250 ?? 10.500 9.300 80,000 80,000 16,300 22,500 (16300+8700- 2500) 5.000 6.200 2554 130 120 I Insurance prepaid The summary of receipts and payments for the year ended 30 June 2020 is as follows: RM Payment 25.200 Payment rates Receipt Member fees Entrance feed Souvenir sales 20 800 Insurance 4 4 500 Stationaries RM 250 1200 800 Souvenir creditors 7.215 Newspapers and magazines Purchase of souvenirs 450 Donation Equipment 8.700 Wages of souvenir workers 5/200 Additional information:+ 1. 2. All equipment is depreciated at 10% per annum at cost. The entrance fee should be treated as revenue income.