Question #3 (20 marks) CLO 4 Fun Land Tours operates an employee sports club. The figures below relate to the club as at January 1, 2020: Equipment $40,000: furniture $120,000, bar stock 535,000; subscription outstanding $12.000, cash at bank $14,000 The treasurer provided the following details of receipts and payment that took place during the year: Subscription received 350.000 Donations 25,000 Bar sales 430,000 Repairs to equipment 15,000 Purchase of bar stock 132,000 Purchase of equipment 140,000 Barman wages 90.000 Electricity 19,000 Caretaker's wages 79,000 Rent 110,000 Water rate 60,000 Additional information as at December 31, 2020 is as follows: 1. Rent owing is $10.000 2. Provide depreciation on equipment at 20% per annum and furniture at 10% per annum. 3. Electricity bill of S1,500 was prepaid. 4. Subscription outstanding was $13,000 5. Bar stock $45,000. Required: (a) The receipts and payment account for the period ending December 31, 2020. (7 marks) (b) The bar trading account for the period ending December 31, 2020. (4.5 marks) (e) The Income and Expenditure account for the period ending December 31, 2020. (8.5 marks)