Oak General Dealers, a registered VAT vendor, sells goods for cash... Oak General Dealers, a registered VAT vendor, sell

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Oak General Dealers, a registered VAT vendor, sells goods for
cash...
Oak General Dealers, a registered VAT vendor, sells goods for
cash and on credit. All debtors are registered for VAT and deal in
standard-rated supplies. VAT is charged at 15%. Miss Marigold owed
R5 000 at the beginning of March 2022.
Oak General Dealers uses the periodic inventory system.
The following transactions took place during the month of March
2022:
Date Details of Transaction
01 Sold goods on
credit to Miss Marigold, R46 000 (including VAT).
05 Realised that
an error was made on the previous invoice. The invoice
was
Undercast by R4 000 (excluding VAT). Miss Marigold was contacted
in this
regard and
she accepted the corrected amount.
08 Miss Marigold
settled her account balance as at 5 March 2021 and took advantage
of
the 2% settlement discount Oak General Dealers had offered her
for prompt
payment. Round to the nearest rand.
09 Sold goods on
credit to Mr Mimosa, R9 200 (including VAT).
10 A rebate of
R200 (excluding VAT) was granted on the goods purchased
by
Mr Mimosa.
15 Best Bank
informed Oak General Dealers that Miss Marigold's EFT processed on
the
8th March was unsuccessful due to insufficient
funds.
18 Miss Zinnia
bought goods on credit, R15 000 (excluding VAT).
23 Miss Zinnia
returned goods purchased on the 18th for R2 875 (including
VAT).
31 Miss
Marigold's lawyer informed Oak General Dealers that Miss Marigold
had been
liquidated. Her lawyer made an EFT payment constituting a
payment of 30 cents in
the rand. The rest of the debt was written off.
Prepare
Debtors Journal (DJ1) with analysis columns for Debtors control,
VAT and Sales. (18) Balance the journal at the end of the
month.
Debtors Allowances Journal (DAJ1) with analysis columns for
Debtors control, VAT and Sales Return.
Balance the journal at the end of the month.
Calculate the discount received by Miss Marigold on the
8th of March. Show all workings as marks will be allocated
Bank informed Oak General Dealers that Miss Marigold's EFT
processed on the 8th March was unsuccessful due to insufficient
funds. 18 Miss Zinnia bought goods on credit, R15 000 (excluding
VAT). 23 Miss Zinnia returned goods purchased on the 18th for R2
875 (including VAT). 31 Miss Marigold's lawyer informed Oak General
Dealers that Miss Marigold had been liquidated. Her lawyer made an
EFT payment constituting a payment of 30 cents in the rand. The
rest of the debt was written off. Prepare Debtors Journal (DJ1)
with analysis columns for Debtors control, VAT and Sales. (18)
Balance the journal at the end of the month. Debtors Allowances
Journal (DAJ1) with analysis columns for Debtors control, VAT and
Sales Return. Balance the journal at the end of the month.
Calculate the discount received by Miss Marigold on the 8th of
March. Show all workings as marks will be allocated