On 1 January 2019 P. Titus established a business, Frencan Appliances, dealing in electrical appliances. The business makes use of the periodic inventory recording method. The transactions for the month of January were: January 3 4 7 9 10 11 15 17 21 24 MATROTE 22 29 Deposited R20 000 in a business banking account. Paid rent R300 and advertising R200 for January. Purchased goods for resale on credit R12 000. Sold appliances for cash R6 000. Returned defective appliances to suppliers and received a credit note for R200. Sold appliances on credit R3 000. Titus took home appliances costing R240 for his own use. Sold appliances on credit R2 400. A box of electric toasters costing R60 was accidentally destroyed in the warehouse (this loss was not insured). Appliances returned by dissatisfied credit customers at selling price R300. Paid wages for the month R700, miscellaneous expenses R90 and creditors R8 000. A physical stock count on 31 January disclosed inventory on hand at cost of R3 850. Use only the following account numbers and titles: 100 101 Capital 400 Sales Drawings 401 Sales returns 200 Accounts payable 402 Cost of sales 300 Inventory 500 Purchases 301 Accounts receivable 501 Purchases returns 302 Bank 502 Rent expenses 503 Advertising expense 504 Wages expense 505 Miscellaneous expense 600 Trading summary 601 Profit and loss summary