Question 2 The following balances were extracted from the books of Alibaba Bookstore, a sole trader on 30 June 2020. Alibaba Bookstore List of balances as at 30 June 2020 Descriptions RM Sales Purchases Inventories Sales returns Purchase returns Carriage inwards Discount allowed Discount received 381,900 286,500 29,400 10,500 7,600 14,700 2,400 1,800 Wages and salaries 36,600 Insurance expenses 3,300 Printing and stationery expenses 14,400 Postage and telephone expenses 9,600 Electricity expenses 8,400 Bad debts 8,100 Provision for doubtful debts Advertising expenses Sales commission expenses Building at cost Motor vehicles at cost Accumulated depreciation Building Motor vehicles Bank overdraft 3,600 9,300 15,300 104,400 36,300 16,500 18,000 10,200 Trade receivables Trade payables Capital Drawings 78,600 61,500 200,000 30,800 As at 30 June 2020 the following additional information are available: 1) Value of inventories as at 30 June 2020 was RM128,500. 2) Depreciation is to be provided at the following rates: Buildings: 10% p.a on cost Motor vehicles: no scrap value, with an estimated useful life of 10 years.