Mr. X of Surat has a branch at Jaipur. Goods are sent at invoice price which is fixed at a profit of 20% on sale under the strict instructions of selling goods only at invoice price. Goods are fully insured against fire and theft. Following are the transactions in respect of Jaipur Branch:

Rs

Rs

Opening Balance of Stock

20,000

Loss by Fire (Cost Price)

15,000

Opening Balance of Debtors

6,000

Stock at End (Invoice Price)

7,000

Closing Balance of Debtors

7,000

Cash received from Debtors

89,000

Goods received from H.O.

2,50,000

Goods returned to H.O.

10,000

(at Invoice Price)

Direct Expenses paid by H.O.

6,500

Indirect Expenses paid by H.O.

14,000

Cash sales: 62.5% of Total Sales

You are required to record the above instructions in the books of the H.O. on the basis of Stock and Debtors System and calculate the net profit of the branch.