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If a registered VAT vendor were to sell standard-rated products for R1 000 cash, which accounts would be debited or credited, and for what amounts?
If a registered VAT vendor were to sell standard-rated products for R1 000 cash, which accounts would be debited or credited, and for what amounts? Select one: O a. Debit cash R1 000; credit sales R850; credit output VAT R150 O b. Debit cash R850; debit output VAT R150; credit sales R1 000 O c. Debit cash R869.57; debit output VAT R130.43; credit sales R1 000 d. Debit cash R1,000; credit sales R86957; credit output VAT R130.43
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