A Bell has kept records of his business transac- tions in a single entry form, but he did not realise that he had to record cash drawings. His bank ac- count for the year 20X8 is as follows: £f Balance 1.1.20X8920 Cash withdrawn from bank 12,600 Receipts from debtors94,200 Trade creditors63,400 Loan from F Tung2,500 Rent 3,200 Insurance1,900 Drawings11,400 Sundry expenses820 B- alance 31.12.20X84,30097,62097,620 Part 5 Special accounting procedures Records of cash paid were: Sundry expenses £180; Trade creditors £1,310. Cash sales amounted to£1,540. The following information is also available: 31.12.20X7 31.12.20X8 ££ Cash in hand194272 Trade creditors 7,3008,100 Debtors9,200 11,400 Rent owing-360 Insurance paid in advance340400 Van (at valuation)5,5004,600 Stock 24,200 27,100 You are to draw up a trading and profit and loss acco- unt for the year ended 31 December 20X8, and a bala nce sheet as at that date. Show all of your workings. 35.5A A Bell has kept records of his business transactions in a single entry form, but he did not realise that he had to record cash drawings. His bank account for the year 20X8 is as follows: £ £ 920 12,600 Balance 1.1.20X8 Receipts from debtors Loan from F Tung Cash withdrawn from bank Trade creditors 94,200 63,400 2,500 Rent 3,200 Insurance 1,900 Drawings 11,400 Sundry expenses 820 Balance 31.12.20X8 4,300 97,620 97,620 435 Part 5 Special accounting procedures Records of cash paid were: Sundry expenses £180; Trade creditors £1,310. Cash sales amounted to £1,540. The following information is also available: 31.12.20X7 31.12.20X8 £ £ Cash in hand 194 272 7,300 8,100 Trade creditors Debtors 9,200 11,400 Rent owing 360 Insurance paid in advance 340 400 Van (at valuation) 5,500 4,600 Stock 24,200 27,100 You are to draw up a trading and profit and loss account for the year ended 31 December 20X8, and a balance sheet as at that date. Show all of your workings.