The following list of account balances were extracted from the accounting records of Don's Electrical Services as at 28 February 2021: List of accounts 1. Stock taking was done on 28 February 2021 and the consumable inventory on hand was valued at R32 700. Land and buildings at cost Debit - R 250 000 Credit - R Vehicles at cost 155 000 Accumulated depreciation: Vehicles -1 March 2020 90 000 Equipment at cost 85 000 Accumulated depreciation: Equipment -1 March 2020 40 000 12% Fixed deposit: Lock Bank Inventory: Consumables -1 March 2020 30 000 21.000 2. The advertising amount includes a contract for R2 400 that was taken for the period 1 January 2021 to 30 June 2021. 3. Don received an amount of R600 from an insolvent debtor which was correctly recorded. However this was only 25% of the total amount owed by the debtor. The outstanding balance must now be written off as irrecoverable. Debtors' control 25 000 4. The Allowance for credit losses must be increased by R250. Allowance for credit losses 1 125 Bank 80 373 5. Communication costs include valid prepaid phone cards to the value of R1 200. Long term borrowing: 10% per year Creditors' control Capital: Don Dude 37 500 20 835 197 500 Drawings 89 327 6. Investment in the fixed deposit was made 31 March 2020 and matures on 31 May 2022. Record the outstanding interest on the fixed deposit. Service fees Interest on fixed deposit Rent income 524 835 1688 19 180 7. Vehicles and Equipment must be depreciated as follows for the current year; Vehicles at 20% on cost, and Equipment at 15% using the diminishing balance method. No vehicles or equipment were bought or sold during the year. 8. The long term borrowing was taken on 31 July 2019 and the loan was to be settled by 4 equal annual instalments beginning 31 August 2020. Provide for the outstanding interest due for the current year. A statement dated 28 February 2021 from the creditor revealed the following: Advertising Credit losses 9 735 2 100 Communication costs 5 078 Consumables purchased 84 148 Other operating expenses 92 902 Interest on borrowings 3.000 932 663 932 663