TIP Sport Club was established by the society of Taman Impian Putra, Kajang. The club opens a craft shop as a main activity of the club to generate funds. The following information is related to TIP Sport Club: a) Assets and liabilities balances 1 July 2020 RM 30 June 2021 RM Bank 8,250 ? Creditors Craft Shop 10,500 9,300 Club's Building 80,000 80,000 Fittings 16,300 ? Stock-Craft Shop 5,000 6,200 Accrued membership fee 255 120 Stationery 130 Accrued utilities - 150 53 Prepaid insurance b) Summary of receipts and payments for the year ended 30 June 2021 Receipt Membership fee RM Payment 80 RM 25,200 Utilities 250 Subscription fee 1,500 Stationery 120 Sales Craft Shop 20,800 Insurance 800 Creditors -Craft Shop 7,215 Magazines and newspapers 258 Purchases Craft Shop 450 Donation 152 Fittings 8,700 Salary Craft Shop 5,200