ambrose traders is a general trading store . Ambrose traders tracks the inventory according to the periodic inventory system and is a vat vendor . all amounts include vat of 15% , where applicable , unless otherwise stated . Ambrose traders entered into the following transactions ;

transactions for the months

1. purchased merchandised on credit,rs .24700( excluding vat)

2.paid short term insurance premium by debit order Rs 4200( vat inclusive)

3 returned merchandise to the seller and recieved a credit note, Rs 3200 excluding vat( refer to transaction 1 above)

4. purchsed a kettle and a toaster on credit Rs. 2200. the kettle and toaster will be used only by staff

5. the owner withdrew inventory for his own use cost price Rs 2520 including vat

6. paid for delivery cost via Abc couriers for trading inventory from petty cash Rs 152 vat inclusive

7. purchased an office computer with cash from Abc inc. ltd Rs 16500 vat inclusive

8 recieved interest from the bank on a favourable bank balance Rs 87.65

REQUIREd : analyse each of the transactions above and complete the table using periodic inventory system

Show the double entry , debit and credit and general ledger account names as well as the effect on the accounting equations fro each transaction in the table columns ensure that u use the positive and negative signs

3.