QUESTION 4 2 Alan Peters, a retailer of toys, prepares final accounts at the end of each six-month period. On the 1 January 2016, the following balances appeared in his books: Group 2 Telephone Insurance Rent Payable Interest Receivable RM 150 credit 250 debit 400 debit 600 debit During the six months ended 30 June 2016, the following transactions took place. All receipts and payments were made by cheque: RM 15 January Paid telephone expenses 220 29 January Paid rent for the three months ending 30 April 2016 1,200 27 February Paid insurance for the three months ending 31 May 2016 375 16 March Reimbursed employee for sundry telephone costs 45 1 April Received 8% interest on Deposit Account in respect of the year ended 31 March 2016 800 18 April Paid sundry insurances for the period ended 30 June 2016 310 15 June Paid rent for the three months ended 31 July 2016 1,500 Additional information: (1) At 30 June 2016, Alan Peters owed RM135 for telephone and the insurance premium of RM375 in respect of the three months ended 31 August remained unpaid. (2) The amount in the Deposit Account and the annual interest rate remained unaltered. REQUIRED (a) Open the four ledger accounts listed above and enter the stated balances. Post all payments and adjustments, and balance the accounts at 30 June 2016 at the same time making the appropriate transfers to the Profit and Loss Account. On 1 July 2016, Alan Peters' stationery inventory was valued at RM500. On 16 July he purchased additional supplies for RM180 cash and on 25 July took, for his own use, some stationery costing RM80. REQUIRED (b) Write up the stationery account from the above details and balance the account at 31 July 2016