The following trial balance has been extracted from the records of Sheeran Ltd at 31 December 2019:

In addition, the following information is made available: (i) Inventory at 31 December 2019 is valued at 72,300.

(ii) Depreciation policies are to be applied as follows: Equipment 25% reducing balance Premises/property Straight line over the useful life of 50 years

(iii) Business rates include a payment of 58,400 made for the 12-month period ended on 31 March 2020. In addition, 1,400 of electricity has been consumed since the last invoice was received.

(iv) Two weeks after the end of the financial year, one of Sheeran's customers who owed 3,200 went into liquidation. The provision for doubtful debts is to be adjusted to 8% of trade receivables at the end of the year.

(v) A repayment of 50,000 on the bank loan was made on 31 December 2019

Make

Property, at cost Accumulated depreciation, property Equipment, at cost Accumulated depreciation, equipment Purchases Sales Inventory, 1 January 2019 Trade payables Trade receivables Cash and bank Provision for doubtful debts Bad debt expense Business rates salaries Water and electricity Insurance expense Issued share capital (1 shares} Share premium Retained earnings Interest expense Bank Loan Total Debit 1 ,700,000 620,000 325,500 52,200 234,850 1 2,600 32,450 28,340 19?,430 10,310 1 2,?60 16,500 Credit 120,000 180,000 95 5,250 193,400 23,560 600,000 300,000 645,230 325 000