Following Receipt and Payment Account was prepared from the cash book of Bengalurucharitable Trust for the year ending March 31, 2018Receipt and Payment A/c for the year ending 31-03-2018Dr.Cr.ReceiptsRs.PaymentsRs.To Balance b/dBy Charity11,500Cash in hand11,500 By Rent and taxes3,200Cash at Bank12,600 By Salary6,000To Donations9,000 By Printing & Postage900To Subscriptions42,800 By Advertisement4,500To Legacies18,000 By Insurance2,000To Interest onBy Furniture21,600Investments4,500 By Investments23,000To Sale of old news papers200 By Balance c/d:Cash in hand9,900Cash at Bank16,00098,60098,600Prepare Income and Expenditure Account for the year ended March 31, 2018, and aBalance Sheet as on the date after the following adjustments:It was decided to treat one-third of the amount received on account of donationas income.b) Insurance premium was paid in advance for three months.Interest on Investment Rs.1,100 accrued was not received.d) Rent Rs.600 outstanding as on March 31, 2018​