Illustration 30.Following is the Receipts and Payments Account of Indian Youth Association for the year ended31st March, 2019:Dr.RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2019 12-19 coReceipts₹ PaymentsTo Balance bld:By Salanes3,00.000In Hand25,000By RentAt Bank2,45,000 2,70,000 By Printing and Stationery15.000To Subscriptions4,00,000 By Postage4000To Bank Interest2,000 By Typewriter40.000To Sale of Old Car40,000 By Investments80,000By Balance ddIn Hand13.000At Bank200.000 2.13.0007,12,0007.12.000Investments were made on 1st October, 2018 earning interest @ 5% p.a. Subscriptionsincluded 80,000 for the year ended 31st March, 2018 and #40,000 for the year ending31st March, 2020. Subscriptions for the year ended 31st March, 2019*80,000 were still in arrears.Rent for March, 2019, 5,000 is still unpaid. 3,000 are payable against a bill for stationery.Book value of the car was 55,000.Prepare Income and Expenditure Account for the year ended 31st March, 2019 and BalanceSheet as at that date.​