XYZ Ltd. went into liquidation on March 31,2022. On that date, it had sundry creditors of ₹ 5,00,000. The break-up of sundry creditors is as follows:

Outstanding wages and salaries   ₹1,00,000

Income Tax dues   ₹50,000 

Municipal Tax dues   ₹25,000 

Salary due to the Managing Director   ₹20,000

Amount of Trade Creditors   ₹3,05,000

Amount of Preferential Creditors of the company—