Share capital: Balance sheet of Fortune Ltd. as on Dec 31, 1998 $ $ Sundry assets 7,00,000 10,000,9% preference shares of Building 1,80,000 $10 each 1,00,000 Profit and Loss A/c 1,00,000 20,000 equity shares of $ 10 each, fully paid 2,00,000 Preliminary expenses 20,000 10,000 equity shares of $ 10each, $8 paid 80,000 9% Debentures 3,00,000 Bank overdraft Trade creditors 1,20,000 8,50,000 Income taxdue 50,000 10,00,000 10,00,000 The debentures were secured by a floating charge on all the assets of the company. The debenture holders appointed a Receiver. A liquidator was also appointed, the Company being voluntarily wound up. The Receiver took charge of sundry assets amounting to $ 5,00,000 and sold them for $4,00,000. The building and the remaining sundry assets realised $ 1,20,000 and 2,80,000 respectively. The cost of the Receiver amounted to $2,000 and his remuneration to $2,500. The expenses of liquidation were $ 3,000 and the remuneration of the liquidator was $2,500. Prepare the accounts to be submitted by the Receiver and the Liquidator