Machete Traders specialises in selling quality household appliances and various household goods. The business is a registered VAT vendor and applies the principles of the perpetual inventory system. The VAT rate is 15%. The following is an extract from the trial balance of Machete Traders as at 31 March 2023: R Sales 194 780 Cost of sales 136 411 Sales returns 10 043 Settlement discount granted 8 522 Settlement discount received 4 013 Required: a) Record the closing transfers in the general journal for the following accounts: Sales Cost of sales Sales returns Settlement discount granted Settlement discount received b) Record the closing transfer for gross profit/loss