On $1$ February $20\mathrm{.}2$ Ms G Gumede is the owner of GG Traders. GG is a registered VAT vendor and the VAT rate applicable is $15\%.$ GG Traders will use the periodic inventory system and entered into the following transactions during February $20\mathrm{.}2$:

$20\mathrm{.}2$

Feb

$1$

Received a loan from ABC Bank for R$300000.$ The amount of R$300000$ was paid into GG Traders bank account. The loan must be paid back on $1$ February $20\mathrm{.}3.$

Made a direct payment to the Midrand municipality to pay the water and electricity deposit, R$1500.$

$5$

Bought shop equipment from EQUIP on credit, R$10005,$ and paid R$1000$ by credit card as a deposit.

$9$

Purchased merchandise on credit from Big Wholesalers, R$28750.$

Cash purchases of merchandise from Dairy Wholesalers, R$13800.$

$18$

Issued a receipt for R$13000$ to tenant, Mrs F Teddy, for part of building sublet to her. $($Ignore VAT$).$

MS Stores deposited $???$ directly into the bank account of GG Traders in full settlement of their account of R$4025.$ Discount of $20\%$ was granted.

Credit purchases of R$14000.$

$20$

Cash sales of R$17250.$

$28$

Received R$1000$ interest on fixed deposit from ABS Bank.

Instructions:

$1.$ Use a full stop to indicate any decimals $($eg: $1000\mathrm{.}01)$

$2.$ Round off to the second decimal after the full stop $($eg: $50\mathrm{.}56)$

$3.$ Dont use any special characters $($&$)$ and dont use bold in your answer. It will be marked incorrect.

$4.$ Do not use any abbreviations.

$5.$ Please remember the brackets around the amounts must be indicated by a negative amount $[$eg: $(50)$ will be $-50].$

$6.$ Keep the transactions strictly according to date sequence.

$7.$ If an option has been provided and it is not applicable to the specific question, please put a $0$ in the amount column and N$/$A in the detail column. You can also leave the blocks empty because no marks were allocated to the $0$ and N$/$A columns. The answer will be marked incorrect, but you will not lose any marks because no marks were allocated to these columns.

The transactions in the cash receipts journal of GG Traders for February $20\mathrm{.}2$ will be

GG TRADERS

CASH RECEIPTS JOURNAL FEBRUARY $20\mathrm{.}2$ CRJ$3$

Date

Details

Fol

Analysis of receipts

Bank

Trade receivable control

Sales

Settlement discount granted

VAT input

VAT output

Sundry accounts

Amount

Fol

Details

R

R

R

R

R

R