ABC manufacturing entity (sole trader) has provided you with the following information at the year ended 31 July 20X2:

......................................................................................... £

Inventories:

- Raw material ...................................................... 25,000

- Work in progress ..................................... 6,700

- Finished goods .................................... 100,000

Trade payables ......................................... 47,500

Trade receivables ..................................... 68,000

Bank ..................................................... 3,500

Administration expenses prepaid...................... 300

Non-current assets (cost £60,000) ................. 59,400

During the year ended 31 July 20X3 the following transactions took place:

..................................................................... £

Seles invoiced............................................ 254,000

Cash received from customers ......................... 245,700

Discounts allowed .......................................... 5,900

Bad debts written off ........................................ 900

Purchases invoiced ....................................... 92,000

Purchase returns ........................................... 1,500

Payments to suppliers ................................... 93,500

Discounts received ........................................ 1,800

Factory wages paid ...................................... 42,600

Manufacturing expenses paid ........................... 51,500

Administration expenses paid........................... 15,800

Selling and distribution expenses paid ................ 18,100

Payments to purchase plant and machinery .......... 28,000

ABC informed you that the balances at 31 July 20X3 were as follows:

................................................................. £

Inventories:

- Row materials .......................................... 24,000

- Work in progress ....................................... 5,900

- Finished goods ....................................... 102,000

Trade payables ....................................................?

Trade receivables .................................................?

Bank ............................................................... ?

Administration expenses accrued ...................... 1,000

Non-current assets (Cost £88,000) .................. 59,000

Additional information

1. Depreciation on non-current assets should be apportioned between manufacturing (60 per cent), administration (25 per cent) and selling and distribution (15 per cent).

2. Discounts allowed and bad debts are regarded as selling expenses.

3. Discounts received should be regarded as administration expenses.

Required

a. Compute the balances on the trade receivables account, the trade payables account and the bank account at 31 July 20X3 (the ledger accounts should be provided).

b. Prepare the manufacturing account and the statement of profit and loss for the company for the year ended 31 July 20X3?