The following is the trail Balance of Mr. Mathew as of March 31s t 2022, you are required to prepare the trading, Profit and loss Account for the ending March 31st 2023. Balance as on date after making the necessary adjustments Particulars Debit Credit Debitor $ 500,000 Creditor $ 200,000 Wages $ 100,000 Carriage Inwards $ 110,000 Carriage Outwards $ 50,000 General Expense $ 70,000 Discounts $ 20,000 Bad Debts $ 10,000 Motor Car $ 240,000 Printing and stationary $ 15,000 Furniture and Fittings $ 110,000 Advertisement $ 85,000 Insurance $ 45,000 Salesman Commission $ 87,500 Postage and Telephone $ 57,500 Salaries $ 160,000 Rates and Taxes $ 25,000 Drawings $ 20,000 Capital $ 1,388,000 Purchases $ 1,550,000 Sales $ 19,875,000 Closing stock $ 250,000 Bank $ 60,000 Cash $ 10,500

Adjustments 1. Stock on March 31st, 2023, was valued at $ 775,000. 2. Provision for Bad and Doubtful Debts @ 5% is to be created. 3. Depreciate Furniture and fittings by 10 % and Motor Car by 20% 4. Proprietor had withdrawn good worth $ 25000 during the years. 5. Salesmen are entitled to a commission of 5% on total sales. 6. Debtors included $ 25,000 bad debts. 7. Purchases include $50,000 worth of furniture. 8. Prepared Insurance $5,000