The financial year of The Better Trading Company ended on 30 November 2024. You have been asked to prepare a Total Trade Receivables Account and a Total Trade Payables Account in order to produce end-of-year figures for Trade Receivables and Trade Payables for the draft final accounts.

You are able to obtain the following information for the financial year from the books of original entry:

According to the audited financial statements for the previous year, trade receivables and trade payables as at 1 December 2023 were £26,555 and £43,450 respectively.
Required:
Draw up the relevant Total Accounts, entering end-of-year totals for trade receivables and trade payables.

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Sales - cash - credit Purchases - cash - credit Total receipts from customers Total payments to suppliers Discounts allowed (all to credit customers) Discounts received (all from credit suppliers) Refunds given to cash customers Balance in the sales ledger set off against balance in the purchases ledger Bad debts written off Increase in the allowance for doubtful debts Credit notes issued to credit customers Credit notes received from credit suppliers 344,890 268,187 14,440 496,600 600,570 503,970 5,520 3,510 5,070 70 780 90 4,140 1,480