M 023 (2) Calculate the VAT amount payable to SARS based on the figures of March 2020 only any 924 Calculate the gross profit percentage for Clever Traders for the month of March 2020 Round to two decimals Sewing Friend makes custom dothing and curtains, they also do alterations on request. Sewing Friend is not a VAT registered vendor and uses the periodic inventory system. Sewing Friend incurred the following transactions during January 2021: Day Transaction 3 Paid R3 750 to a supplier towards settlement of an account. 4 R6 000 was received from a debtor as part payment of their account. S 9 Aula, who is the owner of Sewing Friend, withdrew R600 for private use. Received an invoice from Needle IT Suppliers for R3 670 for a new printer Received R5 700 cash for cash sales. 18 22 Sales were made to customers on credit and invoices to the value of RS 850 were issued. Received the bank statement and the following fees were deducted by the bank Interest on the overdraft R146 Bank charges R59 31 A payment was made to Needle IT Suppliers equal to 50% of the amount owed to them. (Refer to the transaction dated 9 January) Required: Show double-entry account names for each of the transactions above and using the+and-signs show how they will affect the accounting equation Example: Paid telephone account, cash, R350 No. Debit Account Credit Account Assets Owner's Liabilities Name Name Equity Telephone Bank . 350 350 M 023 (2) Calculate the VAT amount payable to SARS based on the figures of March 2020 only any 924 Calculate the gross profit percentage for Clever Traders for the month of March 2020 Round to two decimals Sewing Friend makes custom dothing and curtains, they also do alterations on request. Sewing Friend is not a VAT registered vendor and uses the periodic inventory system. Sewing Friend incurred the following transactions during January 2021: Day Transaction 3 Paid R3 750 to a supplier towards settlement of an account. 4 R6 000 was received from a debtor as part payment of their account. S 9 Aula, who is the owner of Sewing Friend, withdrew R600 for private use. Received an invoice from Needle IT Suppliers for R3 670 for a new printer Received R5 700 cash for cash sales. 18 22 Sales were made to customers on credit and invoices to the value of RS 850 were issued. Received the bank statement and the following fees were deducted by the bank Interest on the overdraft R146 Bank charges R59 31 A payment was made to Needle IT Suppliers equal to 50% of the amount owed to them. (Refer to the transaction dated 9 January) Required: Show double-entry account names for each of the transactions above and using the+and-signs show how they will affect the accounting equation Example: Paid telephone account, cash, R350 No. Debit Account Credit Account Assets Owner's Liabilities Name Name Equity Telephone Bank . 350 350