During the year ended 31 December 2023, the following transactions occurred: 1. Pharma Med Solutions Ltd received 400,000 from sales to customers. 2. Pharma Med Solutions Ltd paid 200,000 to its pharmaceutical suppliers for raw materials and ingredients. 3. Pharma Med Solutions Ltd generated credit sales revenue of 500,000, with a cost of 300,000 for pharmaceutical manufacturing. 4. For pharmaceutical facilities, land and buildings were depreciated at 2% of their cost, motor vans at 25% of their cost, and fixtures and fittings at 10% of their cost per year. 5. Pharma Med Solutions Ltd acquired pharmaceutical inventories worth 450,000 on credit. 6. Pharma Med Solutions Ltd incurred an annual interest expense of 7,500 on its loan, of which 4,000 was paid during the year. 7. Pharma Med Solutions Ltd paid 70,200 in salaries and wages to its pharmaceutical workforce during the year, with an additional 5,500 outstanding at year-end. 8. Pharma Med Solutions Ltd paid 21,000 in rates for the period until 31 December 2023. 9. The company settled heating and lighting bills totaling 20,000 for the first three quarters of the year. An outstanding bill of 6,000 for the final quarter remained unpaid at year-end. 10. The owner withdrew 10,000 from the company for personal use. 11. Pharma Med Solutions Ltd incurred motor running expenses amounting to 10,000 during the year. Required 
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