Exercise 10 (VAT transactions) The company has a beginning inventory of 100 items that totally worth TL 2000. 5 Nov: Purchased on account 200 items for TL 3 776 including 18% VAT. 12 Nov: Sold for cash 280 items for TL 2 1 unit price including 1 8% VAT. The cost ofgoods was TL 4 550. Required: A) Journalize 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