The treasurer of the YY Club provided the following information:

Prepare a receipts and payments account for the year ended 30 April 20–8 showing the amount paid for running expenses during the year.

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2$ Bank balance 1 May 20-7 4734 overdraft Subscriptions received: for the year ended 30 April 20-7 1200 for the year ended 30 April 20-8 12000 for the year ending 30 April 20-9 800 Profit on sale of old sports equipment (book value $520: proceeds of sale $580) 60 Cost of new sports equipment 3100 Rent paid for 15 months to 31 July 20-8 3000 Insurance 520 Loan from a member of the club 4000 Running expenses ? Bank balance 1 May 20-8 3324 debit