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Question 1 2 5 Marks AFE Traders recruited you as their accountant for 3 1 May 2 0 2 4 financial year. The business has

Question 125 Marks AFE Traders recruited you as their accountant for 31 May 2024 financial year. The business has the following information. Cost of sale N$ 175812 Margin 22% Opening Stock N$ 14500 Closing Stock N$ 22812 Total Expenses N$ 24844 Debtors Turnover 12 Times Creditors Turnover 8 Times Current Assets N$ 51596 Current Liabilities N$ 28016 Calculate the following a) Gross profit 3 Marks b) Sales 2 Marks c) Purchases 2 Marks d) Inventory turnover (days)4 Marks e) Net profit margin 4 Marks f) Debtors Balance 2 Marks g) Creditors Balance 2 Marks h) Current Ratio 2 Marks i) Cash balance 2 Marks j) Bank Overdraft 2 Marks ROUND-OFF YOUR ANSWER TO THE NEAREST ZERO DECIMAL PLACE!!!

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