number 20 ?

(25 Marks) Mophiring's Traders is registered as a VAT vendor, had the following transactions during the month of January 2014, Mark up is 20% on sales. Uses the perpetual inventory system and the following amounts are VAT (14%) nduse rapplicabe The owner invested R120 000 in the business. 3 Cash sales according to the cash register roil, R15 048 were banked 4 Purchased merchandise on aredit from Cash and Carry South Africa for R150 000 and received an invoice (lvoice 125) and paid deposit of R10 000. X5 Paid the wages, R7 500. Sold goods on aredit to N Monareng, cost price R4 600 and issues an invoice (001) 7 Cash sales, R21 500. E Letsebela, a debtor paid R4 500 in full settlement of his account of R5 000. 8 Purchased merchandise on credit from Tshwane Traders for R75 125 (nvoice 001) Returned defective stock to Merchandise South Africa, R195 and received credit note (562) 15 Bought goods from Community Manufacture and paid by cheque, R35 263. Paid water and electricity deposit, R1 000 to Tshwane Municipality January and 20 Paid Tshwane Traders for merchandise purchased on credt on the received 5% discount. 27 Z Mokoena, a debtor who owed R2 000 went insolvent and Mophiring Traders received 25cent in Rand, the remaining must be written off. 31 Issued a credit note to P Phillip for goods returned, cost price R1 500 Required to: Record the above transactions on the relevant subsidiary journals