Lalit Mohan keeps incomplete records. From the following information provided by him, prepare a Trading and Profit & Loss Account for the year ended 31st March, 2015 and a Balance Sheet as at that date: 31st March, 2014 31st March, 2015 ₹ ₹ Sundry Debtors 15,000 24,400 Stock 32,000 55,000 Cash 8,400 21,700 Sundry Creditors 22,000 ? Prepaid Expenses Nil 3,600 Unpaid Expenses 1,500 2,200 Furniture 20,000 32,000 Summary of cash transactions during the year: ₹ Receipts from Debtors 2,00,000 Payment to Creditors 1,64,000 Carriage Inwards 3,300 Payment for Life Insurance Premium 15,000 Sundry Expenses 40,000 Furniture purchased for cash 12,000 You are informed that there were considerable amount of cash sales during the year. Credit purchases during the year amounted to ₹ 1,80,000. Provide 5% for doubtful debts on debtors.