ONE (a) Mr Bush Phiri runs a business providing equipment for bakeries. He always makes a note of his credit sales but he is not sure on how to account for VAT on his sales. Currently, the VAT rate is 16%. During the first week of March 2018, the following credit sales took place. All figures include VAT. March 1 K. Banda bought cake tins priced at K580. March 3 F. Jere bought K1 392 worth of equipment. March 4 W. Sashi bought a new oven for K4 640. March 6 P. Patrice purchased goods at a cost of K2 552. March 7 K. Banda bought some oven-proof dishes at a cost of K696. Required: Enter the above transactions in Mr Bush Phiri's sales day book clearly showing for cach transaction the net sales value, VAT amount and the Invoice amount. (6 marks) (b) The trial balance of Buumba Ltd has an excess of debit balances over credit balances of K24. 995. A suspense account has been opened to balance the trial balance. The following transactions were later discovered