K Swa Traders which uses a perpetual inventory system and a mark-up of 50% on cost price had the following transactions during the current financial year: (a) Bought inventory for R12 000 on credit. The custom duties of R3 500 on this purchase was paid with the credit card of the owner. (b) Cash sales at a selling price of R8 700. NOTE: Ignore any VAT implications Record the given transactions under the appropriate columns