Question 3 From the following list of balances, prepare a trial balance as at 31 December 2020 for Arusha James. $ Plant and Machinery 21 450 Motor Vehicles 26 000 Premises 80 000 Wages 42 840 Purchases 119 856 Sales 179 744 Rent Received 3 360 Telephone, printing and stationery 3 600 Accounts Payable 27 200 Accounts Receivable 30 440 Bank Overdraft 2 216 Capital 2 Drawings 10 680 General Expenses 3 584 Lighting and heating 2 960 Motor Expenses 2 360 Inventory (1 January 2020) 9 000 Discount Received 7 000 Returns Inwards 8 500 Interest Received 20 000 Returns outwards 3 200 Commission Received 5 300 Cash in hand 12 000 Taxes Expense 6 000 Inventory (31 December 2020) 15 000 Table 2. Required: A. Prepare a Trial Balance as at 31 December 2020 for Arusha James. (17 marks) B. Explain THREE (3) purposes of the Trial Balance. (3 marks) (Total 20 marks)