Khayla is a sole trader. The following balances were extracted from the books on 30 April 2017. $ Revenue 447000 Purchases 204 400 Returns inwards 8650 Wages and salaries 105600 Motor vehicle expenses 19200 General expenses 31 100 Rent receivable 8500 Rent payable 24000 Motor vehicles (cost) 40000 Computers (cost) 55000 Fixtures and fittings (cost) 15000 Provisions for depreciation: Motor vehicles 12000 Computers 17000 Fixtures and fittings 4000 5% Bank loan (repayable 30 June 2022) 80000 Bank interest paid 2500 Inventory at 1 May 2016 29350 Heat and light 10700 Cash and bank 15400 Debit Trade payables 36750 Trade receivables 44700 Provision for doubtful debts 1400 Capital 30000 Drawings 31050 Additional information at 30 April 2017 1. Inventory was valued at $32450. 2. On 16 April 2017 goods had been purchased for $7500 cash. The transaction had not been recorded in the books. 3. General expenses were accrued, $3500, and prepaid, $1800. 4. Rent receivable of $4500 was owing. 5. The rent payable included a payment of $12000 for the six months ended 30 June 2017. 6. Depreciation is to be charged on all non-current assets owned at the end of the year as follows: (i) motor vehicles at the rate of 20% per annum using the diminishing (reducing) balance method (ii) computers at the rate of 25% per annum using the diminishing (reducing) balance method (iii) fixtures and fittings at the rate of 10% per annum, using the straight-line method. 7. Trade receivables of $2700 are irrecoverable. The provision for doubtful debts is to be maintained at 5% on the remaining trade receivables. REQUIRED