Following is the Receipts and Payments Account of Indian Youth Club for the year ended $\displaystyle 3$ l st March, $\displaystyle 2021$ : 'Receipts and Payments Account' of Indian Youth Club for the year ended 31st March, $\displaystyle 2021$ Receipts Amount Payments Amount (?) ($\displaystyle 3$) To Balance b/d : By Salaries $\displaystyle 3,60,000$ Cash $\displaystyle 25,000$ By Printing & Stationery $\displaystyle 19,000$ Bank $\displaystyle 2,85,000$ $\displaystyle 3$, $\displaystyle 10,000$ By Printer $\displaystyle 40,000$ To Subscriptions $\displaystyle 4,00,000$ By Investments $\displaystyle 80,000$ (including $\displaystyle 40,000$ By Balance c/d : for year ending $\displaystyle 31$ .3.2022) Cash $\displaystyle 12,000$ To Interest on investments $\displaystyle 1,000$ Bank $\displaystyle 2,00,000$ $\displaystyle 2,12,000$ $\displaystyle 7,11,000$ $\displaystyle 7,11,000$ Additional Information : (i) Investments were made on 1st October, $\displaystyle 2020$ @ $\displaystyle 5$% p.a. (ii) Salaries for March, $\displaystyle 2021$ ₹ $\displaystyle 5,000$ are unpaid. (iii) ₹ $\displaystyle 3,000$ are payable for stationery. Prepare Income and Expenditure Account of the Club for the year ended 31st March, 2021.

Indian Youth Club Dr. Income and Expenditure A/c Cr. for the year ended 31st March, $\displaystyle 2021$ Amount Amount Expenditure Income (₹) (₹) To Salaries $\displaystyle 3,60$,000.. ½ By Subscription $\displaystyle 4,00$,000... ½ $\displaystyle 3,65,000$ Less : Received Add : Outstanding + $\displaystyle 5$,000.. ½ for $\displaystyle 2021$-$\displaystyle 22$ $\displaystyle 40$,000... ½ $\displaystyle 3,60,000$ To Printing and Stationery By Interest on investments $\displaystyle 22,000$ $\displaystyle 19$,000.. ½ $\displaystyle 1$,000.. ½ Add : Outstanding + $\displaystyle 3$,000.. ½ $\displaystyle 2,000$ Add : Accrued $\displaystyle 1$,000... ½ By Excess of Expenditure over $\displaystyle 25,000$ Income - Deficit……... $\displaystyle 1$ $\displaystyle 3,87,000$ $\displaystyle 3,87,000$ .