QUESTION - 2 ABC & Sons showed balances of cash in hand Rs. 190,000, Cash at bank Rs. 160,000, Furniture Rs. 110,000, Accounts receivables Rs. 35,000 and Short term loan Rs. 70,000 as on 1st May 2022. Some transactions of ABC & Sons for the month of May 2022 are given below. Date Transactions 4th May Furniture purchased amounting to Rs. 150,000 from Shah furniture house. ABC & Sons gave a cheque of Rs. 40,000 to Shah furniture house on the date of transaction and promised to pay the remaining amount before 30th June 2022. 8th May Goods purchased amounting to Rs. 15,000 on cash basis. 12th May Remaining amount paid by ABC & Sons to Shah furniture house in order to settle the due amount of 4th May 2022. 18th May Cheque of Rs. 60,000 received from bank as loan for a period of five months. 20th May Sold goods to a customer for Rs. 122,000 on credit basis. Next page 24th May Sold furniture amounting to Rs. 55,000 on credit basis 28th May Furniture purchased amounting to Rs. 80,000 from XYZ Furniture Showroom and paid the whole amount by giving a cheque for the same amount. 30th May Paid a short term loan of Rs. 40,000. Required: Based on the above transactions, calculate the amount/balance of the following accounts at the end of May 2022. 1- Cash in hand 2- Cash at bank 3- Furniture 4- Short term loan