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Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders buys and sells furniture and equipment for cash or on
Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders buys and sells furniture and equipment for cash or on credit. On March Africa Traders purchased furniture on credit from SA Suppliers registered VAT vendor to the amount of R On April Africa Traders paid R in full settlement of their account. On the same day Africa Traders purchased furniture on the clearance sale. The selling price of the furniture was Rexcluding VAT Africa Traders paid cash and received a further cash discount on the selling price.
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What amount will be recorded in the bank column of the cash payments journal of Africa Traders on April
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