7.4: Exercises. Exercise 7.1 tre of Harlingen. They make use of ( amongst others) the following ledger accounts Equipment Withdrawals Long term loan Bank Accounts receivable Accounts payable VAT receivable VAT payable Rent Depreciation expenses Interest expenses Inventories Sales Revenue Cost of sales During the third week of October 2014, the following financial facts occurred (in 890.00 186.9Q C 1076.90 15/10 (S 91) Sold on account souvenirs for 21% VAT Purchase price of the souvenirs 660.00 420.00 88.20 E 508.20 16/10 (P 56) Purchased on account souvenirs 21% VAT 660.00 328.00 200.00 220.00 298.00 17/10 (B 10) Paid: rent Paid: accounts payable Paid: redemption on long term loan Paid: interest on long term loan Received: accounts receivable 18/10 (P 57) Returned to supplier damaged souvenirs 110.00 23.10 21% VAT Credit invoice received 133.10 19/10 (G 22) Taken from inventory to use as gift for Friends birthday 21% VAT 50.00 C 10.50 80