On $1$ March $2024,$ Edutech $($not a registered VAT

vendor$)$ borrowed R$295000$ from Futures Bank at an

interest rate of $14\%$ per annum repayable over $10$

years. The R$295000$ was deposited into the bank

account of Edutech. Edutech plans to use the funding

to invest in computer equipment that enables the

development of virtual reality applications for

education purposes. The VAT rate is $15\%.$

On $31$ March $2024,$ Edutech made a down payment

on the loan with an electronic funds transfer for R$4$

$580.$

Required:

Post the above transactions as recorded in the

subsidiary journals for $1$ March $2024$ and $30$ March

$2024$ to the general ledger of Edutech.