Manchette Manufacturers trades in computers and computer parts. The following transactions took place during May 2021. Manchette Manufacturers is not a registered VAT vendor. All inventory is sold at 50% markup on cost. Date Transaction 3. The owner, Mr Mancett, made an additional capital contribution of R90 000 by transferring the funds directly to the business's bank account. 5 ABC Bank transferred R150 000 to the bank account of Manchette Manufacturers. This was for a loan from ABC Bank. The loan is payable on the last day of the month in monthly instalments of R4 982 in arrears. 7 7 10 12 14 17 19 21 Purchased merchandise on credit from Chime Supplies and received their credit invoice C985 for R84 102. . Made an EFT, numbered 5/001, to Graff Traders, R17 050, for purchases of inventory. Sold laptop on credit to P Phillipe and issued invoice M100715, R6 900. Sold computer games to ] Jacob, RZ 125. Mr J Jacob paid immediately via EFT. Issued receipt number 6015. Received invoice no. 19780056 from Telfix, R7 659, for the PABX rental. The invoice will be settled at the end of the month when it is due. Sold goods on credit to M Marie for R29 070. Issued credit invoice M100716. Paid for diesel for the delivery vehicle using the cheque card, R350, numbered 5/002. Purchased two printers at R 1 999 each from Breguet Brothers. One of the printers will be utilised in the administrative office, while the second printer will be displayed on the shop floor for resale. Received their credit Invoice, B1157. (According to the company's policy, all printers with a value of less than R5 000 should be expensed - computer expenses). Calculated the payroll for the month and transferred the total salaries for the month to the salary bureau for payment, R59 876 (numbered 5/003). Cash sales according to the cash register roll, R11 280. Issued receipt number 6016. P Phillipe settled his account in full in cash. Issued receipt number 6017. (P Phillipe's account reflected a balance of R100 on 1 May 2021.) All the cash received was banked on the same day. The following transactions appeared on the bank statement: credit interest, R345; bank charges, R85; and the monthly loan repayment. Paid Telfix by EFT for invoice 19780056 (numbered 5/004). 24 26 31 Required: Record the transactions above in the following subsidiary journals: 1/5 Cash Receipts Journal 2.2. Cash Payments Journal 2.3. Sales/Debtors Journal 2.4. Purchases/Creditors Journal (4) (6) Manchette Manufacturers trades in computers and computer parts. The following transactions took place during May 2021. Manchette Manufacturers is not a registered VAT vendor. All inventory is sold at 50% markup on cost. Date Transaction 3. The owner, Mr Mancett, made an additional capital contribution of R90 000 by transferring the funds directly to the business's bank account. 5 ABC Bank transferred R150 000 to the bank account of Manchette Manufacturers. This was for a loan from ABC Bank. The loan is payable on the last day of the month in monthly instalments of R4 982 in arrears. 7 7 10 12 14 17 19 21 Purchased merchandise on credit from Chime Supplies and received their credit invoice C985 for R84 102. . Made an EFT, numbered 5/001, to Graff Traders, R17 050, for purchases of inventory. Sold laptop on credit to P Phillipe and issued invoice M100715, R6 900. Sold computer games to ] Jacob, RZ 125. Mr J Jacob paid immediately via EFT. Issued receipt number 6015. Received invoice no. 19780056 from Telfix, R7 659, for the PABX rental. The invoice will be settled at the end of the month when it is due. Sold goods on credit to M Marie for R29 070. Issued credit invoice M100716. Paid for diesel for the delivery vehicle using the cheque card, R350, numbered 5/002. Purchased two printers at R 1 999 each from Breguet Brothers. One of the printers will be utilised in the administrative office, while the second printer will be displayed on the shop floor for resale. Received their credit Invoice, B1157. (According to the company's policy, all printers with a value of less than R5 000 should be expensed - computer expenses). Calculated the payroll for the month and transferred the total salaries for the month to the salary bureau for payment, R59 876 (numbered 5/003). Cash sales according to the cash register roll, R11 280. Issued receipt number 6016. P Phillipe settled his account in full in cash. Issued receipt number 6017. (P Phillipe's account reflected a balance of R100 on 1 May 2021.) All the cash received was banked on the same day. The following transactions appeared on the bank statement: credit interest, R345; bank charges, R85; and the monthly loan repayment. Paid Telfix by EFT for invoice 19780056 (numbered 5/004). 24 26 31 Required: Record the transactions above in the following subsidiary journals: 1/5 Cash Receipts Journal 2.2. Cash Payments Journal 2.3. Sales/Debtors Journal 2.4. Purchases/Creditors Journal (4) (6)
