Given Below is the Receipts and Payments Account of a Mayur Club for the year ended 31st March , 2018: RECEIPTS AND PAYMENTS ACCOUNT Dr. Cr. Receipts Amount (₹) Payments Amount (₹) To Balance b/d By Salaries 60,000 To Subscriptions: By Expenses 7,500 2016-17 4,000 By Drama Expenses 45,000 2017-18 2,05,000 By Newspapers 15,000 2018-19 6,000 2,15,000 By Municipal Taxes 4,000 To Donations 54,000 By Charity 35,000 To Proceeds of Drama Tickets 95,000 By Investments 2,00,000 To Sale of Waste Paper 4,500 By Electricity Charges 14,500 By Balance c/d 90,000 4,71,000 4,71,000 Prepare club's Income and Expenditure Account for the year ended 31st March , 2018 and Balance Sheet as at that date after taking the following information into account:(i) There are 500 members, each paying an annual subscription of ₹ 500, ₹​ 5,000 are still in arrears for the year ended 31st March, 2017.(ii) Municipal Taxes amounted to ₹​ 4,000 per year is paid up to 30th June and ₹​5,000 are outstanding of salaries.(iii) Building stands in the books at ₹​ 5,00,000.(iv) 6% interest has accrued on investments for five months.