Mekgoe Florist is situated in the Western Cape. The

business is a registered VAT vendor and makes use of the

periodic inventory system. During the month of March

$2024,$ Mekgoe Florist maintained a favourable bank

balance. The VAT rate is $15\%.$

On $8$ March $2024,$ Mekgoe Florist sold inventory for R$875$

$($VAT inclusive$),$ and the customer paid the full amount

owing with a debit card.

REQUIRED:

Analyse the transaction of Mekgoe Florist that took place

on $8$ March $2024$ in tabular format as follows:

Example: May $2$ Mekgoe Florist purchased inventory for the amount

of R$5000($VAT exclusive$)$ and paid cash. Mekgoe

Florist makes use of the periodic inventory system

Complete the table below by selecting the account to be

debited and the account to be credited from the dropdown

menu and filling in the applicable amounts in the correct

spaces.