Question 1. Bags Galore buy and sell a limited range of imitation leather bags. The following information was extracted from their financial records for the year ended 28 February 2021: (12 Marks).

Details R Totals at 1 March 2021: List of debtors debit balances 53 820 List of debtors credit balances 1 450 REGENT BUSINESS SCHOOL [RBS] JANUARY 2021 27 BACHELOR OF COMMERCE IN SUPPL'Ir CHAIN MANAGEMENT YEAR 1 ACADEMIC AND ASSESSMENT CALENDAR DISTANCE List Of creditors credit balances 43 900 Transactions TOT the month ended 31 March 20212 Goods sold to customers for cash 453 Too Goods sold to customers on credit 229 540 Cash received from debtors 218 2m Goods bought from suppliers for cash 1T2 42D Goods bought from suppliers on credit 152 300 Cash paid to creditors 128 500 Credit notes granted to debtors for goods returned by them 24 iii-'0 Credit notes received from suppliers for goods returned to them 2? D40 Interest charged on overdue debtors' accounts 2 530 31 March 2021: Total ofcredit balances in the Debtors' subsidiary ledger 890 Required: Transactions details R Inventory on hand at 1March 2020 226 700 Purchases 360 480 Import duties 106 800 Transport costs on purchases 91 600 Settlement discounts received 26 900 Transport costs for delivery to customers 83 200