Explanation:

- The Income and Expenditure Account records the expenses for the relevant accounting period.

- It's important to consider any prepaid expenses or outstanding liabilities. The balance should accurately reflect expenses for the year.

- To address the options:

1. ?75,700: Could imply there are outstanding liabilities from previous periods or prepayments affecting balance.

2. ?74,300: Might suggest there were prepayments for the following year, decreasing the present year's expenditure.

3. ?75,300: Indicates a minor adjustment, perhaps due to minor outstanding liabilities or prepayments.

4. ?74,700 : Suggests lower payment due to advance payments or fewer outstanding liabilities.

Correct Answer: Option 4 - ?74,700