BA221 FINANCIAL ACCOUNTING, Class Exereises 2018-2019 Exercise 11: Apricot Company's information for the month of November 2018 is given below. The amounts do not include the Value Added Tax (VAT 8%). No beginning merchandise inventory, Beginning cash 120.000 November November 5 Purchased TL 100.000 merchandise inventory with cash. November 10 Sold merchandise for TL 70.000 on account. Cost of the merchandise sold was TL 55.000. November IS Purchased TL 80.000 merchandise inventory on account. November 25 Sold merchandise for TL 50.000 with cash. Cost of the merchandise sold was TL 30.000. Required: A) Jounalize the transactions and prepare the VAT T-Accounts. B) Close the VAT accounts at November 30. C) Journalize the payment of the necessary amount to the Tax Office on December 26