The following is the receipt and payment account of Punjab Club for the year ended 31st december 2018. Prepare Income and expenditure account. Rs. Payments 24,760 32,660 4,840 8,000 2,200 9,620 Receipts Balance b/d Subscription Entrance Fee Interest Rent of Hall Misc. Receipts 82,080 Salaries Repairs Motor Car Rent Printing Expenses Misc.Expenses Balance c/d Rs. 12,000 3,000 16,000 11,200 4,700 17,840 17,340 82,080