The following information was obtained from the records of Nash Briges CC on 31 December 2013 Retained earnings (1 January 2013 Bank overdraft Furniture and fittings- Carrving amount Inventory (1 January 2013) Investment- Cost Land and buildings- Valuation Member's Contributions Allowance for credit losses 1 January 2013 Inland revenue provisional tax pavments made Revaluation surplus Trade creditors Trade debtors Vehicles- Cost price 1 January 2013 12% Members loan 20% Long-term loan (1 July 2013 Sales Purchases Delivery costs on sales Discount granted Discount received Income tax- current Insurance Interest on overdraft Interest received Members salaries Printing expenses Freight on purchases Rates and taxes Rent paid Repairs and maintenance Salaries and wages Water and electricit Credit losses 8 400 287 15 750 7 000 2 100 13 500 17 500 175 5 890 5 775 7 000 11 600 12 260 5 250 17 500 105 000 50 750 1 365 403 5 891 1 225 525 210 3 062 752 1 925 875 420 542 22 750 2 100 525 173 320 Additional Information (round off to the nearest) 1. Allowance for credit losses should be adjusted to 2.5% of trade debtors at year end Page 17 of 21