Cap. 6:07 INSOLVENCY No. 7/2018 Liquidation account 3. 3 .I A liquidation account must contain a record of all receipts derived from the realisation of assets and disbursements made or to be made in defraying the costs of liquidation, except receipts and disbursements reflected in a trading account. 3.2 The record of receipts and disbursements must reflect full particulars explaining their nature and state the amount thereof in a money column. 3.3 The gross proceeds of assets must be reflected and the disbursements incidental to the realisation must be entered as disbursements. 3.4 Receipts and disbursements must upon the request of the Master be supported by satisfactory vouchers numbered consecutively in the top right-hand corner by reference to the number appearing in the account opposite the relative item. 3.5 The account must reflect separately the distribution to be made (if any) to secured claims, preferent claims and concurrent claims and the contribution to be levied (if any). 3.6 If security has been realised, the liquidation account must contain a free residue account dealing with receipts not subject to security and consecutively numbered encumbered asset accounts dealing with receipts subject to security. 3.7 If disbursements or income are apportioned amongst the free residue and encumbered asset accounts the liquidation account must indicate how the apportionment has been calculated. 3.8 4. An encumbered asset account must be drawn to indicate the proceeds of the realisation of security, the disbursements payable out of the proceeds of the security and the amount payable to a creditor or creditors with the period for and rate at\\ hich interest before and after liquidation (if any) has been calculated. Trading account When the liquidator carried on business by either purchasing stock or entering into new transactions for the purpose of trading, a separate trading account including the following items only, must be submitted: (a) 5. the \·alue of the stock on hand at the date of liquidation shown on the credit side; (b) the receipts and disbursement on the trading account; (c) the value of stock on hand at the date on which the accounts were made up shmm on the debit side with a note of the items in the liquidation account reflecting the proceeds of the stock that has been realised (if any). Bank reconciliation 5.1 The liquidator must lodge complete statements up to the date on which the accounts were made up of all accounts opened in terms of section 88. 5.2 The account must contain a bank reconciliation statement with the following information: (a) the balance in the cheque account and the date at which the bank statement reflected that balance; (b) the amount of the contri hution provided for in the contribution account (if any); 331