March 2020, Balance Sheet as on 1st April 2019 and additional information, prepare Receipt andPayment Account for the year ending 31st March 2020 & a Balance sheet as on 31st March 2020.Income & Expenditure Account(For the year 31st March 2020)Expenditure Rs. Income Rs.To Salaries 6.000 By Subscription 11,280To Rent 1,320 By Entrance Fee 720To Travelling Expenses 60 By Donation 1,200To Printing and Stationery 120 By Interest 600To General Expenses 180To Equipment used 3,000To Surplus 3,12013,800 13,800Balance Sheetas on 1st April 2019Liabilities Rs. Assets Rs.Capital Fund 20,700 Furniture 4,000Rent outstanding 120 Building 8,000Salaries outstanding 780 Investment 6,000Sports Equipment 1,200Bank '1,680Accrued Interest 120Subscription Due 600.21,600 21,600Additional Information: (Balance as on 31st March 2020)Subscription receivable was Rs.960Salaries outstanding was Rs.480Rent outstanding was Rs.240​