A trader maintains allowances for trade receivables to cover 2 percent of trade receivables outstanding at the year end. Information from her financial records include the following:

Total trade receivables outstanding at end of year - 380,000 pounds

Bad debts still to be written off for the year - 30,000 pounds

Allowances for trade receivables at beginning of year - 64,000 pounds

What is the total charge to the income statement for the year in respect of trade receivables (in pounds)?

A. 30,000

B. 42,000

C. 76,000

D. 36,000