Dashboard / My courses / FAC1501-23-S1 / Learning unit 6 / F - Learning unit 6: Quiz 4 You will learn more about the topic in learning unit 6 and 7.) The following information and transactions of Mapungubwe Traders are for August 2021: Date Transaction Purchased goods on credit from a supplier to the value of R7 000. Sold goods to a customer for R2 000 on credit. 5 7 14 23 26 31 REQUIRED: Date 5 7 On 26 July 2021 packing material was purchased for R2 500 and paid with the business debit card and entered in the column for inventory in the cash payments journal and posted as such. Correct the error. A debtor settled his account of R3 000 with a direct deposit for R2 800. Indicate for each of the above transactions which accounts in the general ledger must be debited and credited. Indicate the subsidiary journal where the transaction will first be recorded. 14 23 The owner took goods to the value of R3 500 for his own use. On 31 July 2021 an electronic funds transfer was made for R8 000 to the insurance brokers for the payment of the insurance for the financial year. 26 31 General ledger Account to be debited Account to be credited Inventory Trade eceivables control Cost of sales Bank Drawings Subsidiary journal Trade payables control Sales Packing material Settlement discount granted Insurance n

Date Transoction. 5. Purchased goods on credit from a suppler to the value ot R7 000. 7 Sold goods to a customer for R2.000 on credit. 14 On 26 July 2021 packing materiai was purchased for RA.500 and paid with the business debit card ard entered in the colurnm for inveritory in the cash payments journal and posted as such. Correct the emor. 23 A debtor settied his account of RS000 with a direct deposit for R2 800 . 26 The owner took goods to the value of R3 500 for his own use. 31. On 31 July 2027 an electronic funds trarsfer was made for P8000 to the insurance brokers for the payment of the insurance for the financial year: REQUIRED