Give the necessary adjusting entries for the following items appearing outside the Trial Balance as on Dec 31, 2009
- Closing stock as on Dec 31, 2009 Rs 10,000
- Rent received in advance Rs 3,750
- Salary due but not paid Rs 5,400
- Interest due but not received Rs 1,200
- Unexpired insurance on Dec 31, 2009 Rs 970
- Bad debts to be written off Rs 600
- Depreciation on fixed assets @ 20%
- Create provision for doubtful debts @ 5%
- Create provision for discount on debtors @ 2%
- Create provision for discount on creditors @ 2%
- All interest on capital @ 12% p.a.
- Charge interest on drawings @ 10% p.a.
Other Information: Fixed Assets Rs 69,000; Debtors: Rs 90,000; Creditors: Rs 40,000; Capital: Rs 2,50,000; Drawings: Rs 10,000.