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3.0 Points On 1 April 2020, A South a sole proprietor opened a computer shop, SA Computing. The entity is registered as a VAT vendor
3.0 Points On 1 April 2020, A South a sole proprietor opened a computer shop, SA Computing. The entity is registered as a VAT vendor and the applicable VAT rate is 15%. The transaction amounts include VAT where applicable. On 1 April 2020, A South deposited R115 000 into the bank account of SA Computing as a loan to start the business. Interest of 5% per annum is payable on the loan. SA Computing issued receipt no 0003 as proof of the transaction. The entry on 1 April 2020, in the journal with the following columns will be: Details Bank Input Output Sales Debtors Sundry VAT VAT accounts (dr) R R R R R R . A. In the bank column - R115 000, in the VAT input column - R15 000 and in the sundry accounts column - loan: A South of R100 000. B. In the bank column - R115 000 and in the sundry accounts column - loan: A South of R115 000. C. In the bank column - R115 000, in the VAT output column - R15 000 and in the sundry accounts column - capital of R100 000. D. In the bank column - R115 000 and in the sundry accounts column - capital of R115 000. Reset Selection C ]
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