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Question 4 [12] Assume that the following sundry transactions took place with regard to inventory during January 2022. Blewit Enterprises uses the periodic inventory

 

Question 4 [12] Assume that the following sundry transactions took place with regard to inventory during January 2022. Blewit Enterprises uses the periodic inventory system VAT is 15%. All parties are VAT vendors. Date Transaction details 7 28 The owner, Mr Blewit, took merchandise with a VAT exclusive cost price of R600 for own use. JV11 was issued. Mr Blewit returned goods with a VAT exclusive cost price of R160, which he withdrew on 7 January. Required: Record the transactions in the General Journal for January 2022.

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