Gce Model Questions Vol1 2021 Financial Accounting Question 38

A retailer's records for the year show: Net sales (after trade discounts) \(200{,}000\); Trade discounts allowed on sales are 5% of gross sales; Sales returns (net of discounts) \(8{,}000\); Net purchases (after trade discounts) \(120{,}000\); Trade discounts received on purchases are 4% of gross purchases; Purchases returns (net of discounts) \(5{,}000\); Opening stock \(25{,}000\); Closing stock \(30{,}000\); Cash received from customers \(189{,}000\); Cash paid to suppliers \(115{,}000\); Opening trade receivables \(12{,}000\), closing trade receivables \(15{,}000\); Opening trade payables \(9{,}000\), closing trade payables \(11{,}000\). Cash sales represent 40% of gross sales. Determine the amount of credit sales made during the year (rounded to the nearest pound).