To Life12. The following is the receipts and Payments account of "Vidya Nagar Welfare Associationfor the year ended 31st December, 2015.Receipts and Payments A/cTo EntrCr.Dr.To DonAmountTo SalReceiptsAmountPaymentsityiTo SalTo BalanceTo Entrance FeesTo Subscriptions 2013-14CY? To Subscriptions 2014-15To Subscriptions 2015-16To Function Hall rent3,000 By Rent14,4005,500 By Stationery2,8702,000 By Wages D9,80085,000 By Construction cost of dinning hall A 39,0002,000 By Maintenance expenses D5,4101,600 By Interest D6,200To Dinner receipts7,600 By Furniture A2,00013,000By Fixed depositBy Dinner expenses D5,80014By Balance A8,220DI1,06,7001,06,700Additional Information1. Capital fund of the association is 5,300.2. Hall rent 300 related to last year and 400 received in advance.3. Outstanding subscriptions for current year 1,600Prepare Income and Expenditure account and Balance sheet from the above information.Bus​