The following balances appeared in the books of Khanna \& Sons on 1 st April, 2016: Assets: Cash ₹ 5,83,000;

The following balances appeared in the books of Khanna \& Sons on 1 st April, 2016: Assets: Cash ₹ 5,83,000; Debtors (Jyoti ₹ 8,600 ; Manish ₹ 8,400 ; Sahil ₹ 9,000 ) Stock ₹ \( 7,700) \). Transactions during 2016-2017 were: \begin{tabular}{|l|} \hline Bought goods from Amit ₹ 35,\( 000 ; \) Kajal ₹ 28,500 and Rohit ₹ 45,300 . \\ \hline Sold goods for cash ₹ \( 1,16,400 \). \\ \hline Sold goods on credit to Jyoti ₹ 28,\( 000 ; \) Manish ₹ 30,600 and Sahil ₹ \( 44,000 . \) \\ \hline Bought goods for cash ₹ \( 1,42,000 . \) \\ \hline Paid salaries ₹ 24,\( 000 ; \) Rent ₹ 12,\( 000 ; \) Postage ₹ 2,\( 200 ; \) Stationery ₹ 1,\( 700 ; \) Carriage on purchases ₹ 12,\( 000 ; \) Lighting ₹ 15,000 . \\ \hline Drawings for personal use ₹ 3,000 per month. \\ \hline Cash received from Jyoti ₹ 25,000 . \\ \hline Cash received from Manish ₹ 31,000 and Discount allowed to Manish ₹ \( 500 . \) \\ \hline Cash received from Sahil ₹ 40,000 and Discount allowed to Sahil ₹ \( 1,000 . \) \\ \hline Purchased furniture for ₹ \( 20,000 . \) \\ \hline Cash paid to Kajal ₹ \( 25,000 . \) \\ \hline Cash paid to Amit ₹ 26,000 and Discount received from Amit was ₹ \( 1,200 . \) \\ \hline Cash paid to Rohit ₹ 38,000 and Discount received from Rohit was ₹ \( 2,300 . \) \\ \hline \end{tabular} Additional Information: At the end of the year, the firm found that: - Closing Stock was worth ₹ 32,000 . - Salaries outstanding ₹ \( 3,000 . \) - Rent prepaid was ₹ 1,000. - Depreciate furniture (including furniture purchased during the year) @ 10\%. You are required to: - Journalise these transactions, post them into ledger accounts and prepare Trial Balance. - Prepare Financial Statements for the year 2016-2017.