On 1 January 2009 the following balances, among others, stood in the books of G Pierce, a sole trader:

(a) Business rates, £340 (Dr);

(b) Packing materials, £610 (Dr).

During the year ended 31 December 2009 the information related to these two accounts is as follows:

(i) Business rates of £2,400 were paid to cover the period 1 April 2009 to 31 March 2010;

(ii) £4,300 was paid for packing materials bought;

(iii) £360 was owing on 31 December 2009 in respect of packing materials bought on credit;

(iv) Old materials amounting to £94 were sold as scrap for cash;

(v) Closing stock of packing materials was valued at £770.

You are required to write up the two accounts showing the appropriate amounts transferred to the Profit and Loss Account at 31 December 2009, the end of the financial year of the trader.

Note: Individual accounts are not opened for creditors for packing materials bought on credit.