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Click to see additional instructions Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders buys and sells furniture and
Click to see additional instructions Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders buys and sells furniture and equipment to customers for cash or on credit. On 1 March 2021, Africa Traders sold furniture on credit to Mrs A South to the amount of R13 600. On 27 April 2021, Mrs South settled her account and received R780 discount for early settlement. Required: Record the transaction that took place on 27 April 2021 in the cash receipts journal of Africa Traders. NB: 1. Do not type the amount with any spaces as separators for thousands (eg: 12141,72) 2. Use a comma to indicate any decimals (eg: 1000,01) 3. You must enter cents even if it is 0 (eg,00) 4. If no amount should be entered in one of the open spaces, please indicate it by filling in a zero "0" Solution: Africa Traders Cash receipts journal - April 2021 Day Details Bank CRJ Sales VAT output Debtors VAT input R Settlement discount granted R R R 27 R R Mrs South
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