On $30$ November $20,$ the accountant recorded the following journal entry and posted it to the ledger:

$\backslash$table$[[,,,$Debit,Credit$],[20,,,,],[$Nov$,30,$Inventory,$20000,],[,,$Sugar Wholesalers Ltd$,,20000]]$

The amount of R$20000$ represents the purchase of merchandise from Sugar Wholesalers Ltd$,$ a supplier of sugar products to retail businesses.

REQUIRED:

$1\mathrm{.}1$ Identify the element of financial statements which was debited in the above journal entry.

$1\mathrm{.}2$ Explain the element you have chosen in $1\mathrm{.}1.$

Your explanation$/$motivation should refer only to the definition criteria of this element in accordance to the conceptual framework of $2018.$

Thus, "Inventory" is a$/$an $q,$ because: