Zicco owns a provision shop at Keta. On 31st December, 2020 the following trial balance was extracted from her books: Capital (1/1/2020) Motor van(cost) Equipment (cost) Accumulated depreciation: Motor van Dr. GH Cr. GH 960,000 680,000 320,000 128,000 Equipment 104,000 Inventory (1/1/2020) 120,000 Purchases and sales 450,000 1520,000 Returns 12,000 27,000 Carriage outwards 48,000 Carriage inwards 20,400 Trade Receivables 290,000 Trade payables 120,000 Allowance for receivables 16,000 Bad debts 60,000 Wages and Salaries 270,000 Discounts 54,000 88,000 Postage and Stationery 132,000 Utility Bills 42,000 10% Loan 160,800 Rent & Rates 128,000 Sundry expenses 100,000 Cash 40,000 Bank 239,400 Personal drawings 88,000 3,108,800 3,108,800 The following additional information was made available: i) Inventory at 31st December, 2020 was valued at GH 176,000. ii) Depreciation at the rate of 40% on cost for Motor Van and 50% on Equipment on reducing balance method basis. iii) An amount of GH 28,000 is accrued in respect of Postage and Stationery at 31st December, 2020. iv) Allowance for receivables is to be adjusted to GH 10,000 at 31st December, 2020 as a result of improvement in debt recovery efforts. v) Rent and rates pre-paid amounted to Gh25,600. vi) The loan was contracted on 1st January, 2020. Provision should be made for the interest on loan.