Question 1 Jonathan Lenn is a sole trader who has been in business for a number of years. The following trial balance was extracted from the books for the year ended December 31, 20x8: $ Dr $ Cr Buildings 140,000 Accumulated depreciation: Buildings 36,000 Motor vehicles 46,000 Accumulated depreciation: Motor vehicles 13,000 Fixtures and Fittings 300,000 Accumulated depreciation: Fixtures and Fittings 60,000 Accounts receivable 96,000 Accounts payable 139,000 Inventory 45,000 Cost of goods sold 283,400 Freight out 5,800 Insurance expense 8,400 Revenue 420,000 Cleaning and Repairs 1,500 Stationery expense 1,200 Electricity expense 1,200 Telephone expense Interest expense Bank charges Cash at bank 1,300 2,500 150 14,900 Long-term loan 60,000 Advertising expense 2,700 Common stock 121,000 Allowance for doubtful accounts 8,000 Retained earnings (January 1, 20x8) 65,450 Repairs expense 2,200 937,350 937,350