From the following information, calculate the amount to be charged to Income and Expenditure Account for ‘Sports material consumed’ for the year 2019-20.
|Stock of Sports material (01-04-2019)||60000|
|Amount paid to creditors (during 2019-20)||3,00,000|
|Creditors for Sports Materials (01-04-2019)||1,00,000|
|Creditors for Sports Materials (31-03-2020)||80000|
|Sports Material sold During the year (Book Value Rs.35,000)||15000|
|Cash Purchases of Sports Material (During the Year 2019-20)||1,30,000|