From the following Receipts and Payments Account of Jaipur Sports Club, prepare Income and Expenditure Account for the year ended 31st March, 2019: RECEIPTS AND PAYMENTS ACCOUNT for the year ended March 31st March, 2019 Dr. Cr. Receipts ₹ Payments ₹ To Balance b/d 2,00,000 By Rent 60,000 To Entrance Fees: (including ₹15,000 for 2017 – 18) 2017 – 18 10,000 By Insurance Premium 60,000 2018 – 19 50,000 60,000 (including ₹15,000 for 2019 – 20) To Subscriptions: By Sports Equipments 50,000 2017 – 18 10,000 By Furniture 60,000 2018 – 19 (90%) 90,000 (Purchased on 31st March, 2019) 2019 – 20 5,000 1,05,000 By 8% Fixed Deposit 1,20,000 To Life Membership Fees 20,000 (Made on 1st October, 2018) To Donations 1,20,000 By Tournament Expenses 10,000 To Donation for Tournament 50,000 By Books 20,000 To Subscription for Governor's Party 15,000 By Newspapers 1,000 To Interest on 8% Fixed Deposit 2,400 By Printing and Stationery 19,000 To Sale of Old Newspapers 300 By Balance c/d 1,80,000 To Sale of Old Sports Materials 500 (Book Value ₹ 1,200) To Locker Rent 6,800 (including ₹ 600 for 2017 – 18) 5,80,000 5,80,000