Lear ni ng uni t$7$:Question $4($Marks: $40)$FAIZ General Dealers, a registered VAT vendor, has several debtors and creditors. All debtors andcreditors are registered for VAT, and deal in standard rated supplies. VAT is charged at $15\%.$The following balance appeared in the books of FAIZ General Dealers on $1$ March $2021$:Sally Knowall $($Debtor$)($D$34)$ Dr Balance R$12000.$The following transactions took place during the month of March $2021$:DateDetails of transaction$158$q$15182331$FAIZ General Dealers sold goods on credit to Sally Knowall, R$46000($including VAT$).$FAIZ General Dealers realised that an error was made on the previous invoice. Theinvoice was undercast by R$4000($excluding VAT$).$ Sally was contacted in this regardand she accepted the corrected amount.Sally Knowall settled her account balance as at $5$ March $2021$ and took advantage ofthe $2\%$ settlement discount FAIZ General Dealers had offered her for promptpayment. Round to the nearest rand.FAIZ General Dealers sold goods on credit to Sally Knowall, R$10000($excluding VAT$).$Egoli Bank informed FAIZ General Dealers that Sally Knowall's cheque, received on the$8$th was dishonoured due to insufficient funds.Sally Knowall bought goods on credit, R$15000$ excluding VAT.Sally Knowall returned goods purchased on the $18$th for R$2750($including VAT$)$Sally Knowall's lawyer informed FAIZ General Dealers that Sally Knowall had beenliquidated. Her lawyer sent a cheque constituting a payment of $30$ cents in the rand.The rest of the debt was written off.Re qu re d:Prepare the individual account of Sally Knowall $($D$34)$ in the debtors ledger of FAIZGeneral Dealers from the information provided above for the month of March$2021.$Round to the nearest rand where applicable.