As at 5 June 74,850 was owed as VAT. During the week commencing on that date purchases
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As at 5 June £74,850 was owed as VAT. During the week commencing on that date purchases were £141,000 (excluding VAT) and sales £423,000 (inclusive of VAT). Assuming that there were no other transactions involving VAT the amount owed as VAT by the end of the week would be:
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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