Question 1 On October 1 the following trial balance was extracted from Zing Store: Accounts Payables Accounts Receivables Dr $ Cr $ 8410 12400 Bad Debt expense Capital Cash at bank Discount Allowed Discount Received Drawings 420 168430 4870 510 730 31300 Electricity charges Furniture and Equipment: Cost 20000 Provision for depreciation at 1 October 2018 7260 Insurance 2050 Inventory 1 October 2018 11420 Purchases 131800 Provision for Doubtful Debts 1 October 2018 530 Rent received 4300 Revenue 214900 Shop Premises: Cost Provision for depreciation 1 October 2018 Wages 15000 6000 39750 410,500 410,500 Table 1. Additional information at 30 September 2019 Inventory was valued at $13,700 i. ii. Wages were accrued $720 iii. Insurance was prepaid $390 iv. V. a. vi. Prepare: Rent Received was due $250 Depreciation should be provided as follows: Furniture and equipment 20% per annum using the Reducing Balance Method b. Shop premises 2% per annum using the straight-line method The provision for doubtful debts should be maintained at 5% of Accounts Receivables A. an Income Statement for the year ended 30 September 2019. B. a Statement of Financial Position as at 30 September 2019.