Question 2 (25 Marks) You own the firm Stormers Attorneys (operating from Cape Town) and receive instruc your correspondent, Bulls Attorneys (operating from Pretoria) to see to a collection You are instructed to recover debt of R1 000 000 from Mr Du Toit, on behalf of your correspondent's client, Mr Nyakane. Both firms are registered VAT vendors Stormers Attorneys paid the VAT liability for April 2021 on 30 April 2021 The balance per the business bank reconciliation statement for Stormers Attorneys was R23 000 at 31 March 2021. There were no reconciling items at that date You draft the following statement to Bulls Attorneys on 23 April 2021 Account Statement - Bulls Attorneys 416 Kirkness . You are required to prepare all the relevant accounting entries related to the statement above in the following records of Stormers Attorneys for April 2021: Books of primary entry (Business Cash Book & Trust Cash Book only - it is not necessary to show other journal entries) . General Ledger - VAT Control Account, . Business Debtor (Client) Ledger Trust Creditor Ledger Arcadia Pretoria von . 23 April 2021 Fritz Sonnenberg Rd, Green Point, Cape Town, 8051 Take note: should the amount applicable to a transaction include cents, round off your answer to the nearest full rand. ZAR Debit Credit RE: Collection - Mr Du Toit vs Mr Nyakane 950 000 000 en 61 S60 Cash collected from Du Toit Fees for issuing summons (including VAT) 580.00 68 400 400,00 Collection commission (including VAT) Correspondent's allowance (including VAT) ? Proof of Electronic Funds Transfer herewith ? ? ? Bulls Attorneys are granted a 15% correspondent allowance on all income earned by Stormers Attorneys as a direct result of services performed with regards to the above matters, in line with the signed agreement between the two firms Question 2 (25 Marks) You own the firm Stormers Attorneys (operating from Cape Town) and receive instruc your correspondent, Bulls Attorneys (operating from Pretoria) to see to a collection You are instructed to recover debt of R1 000 000 from Mr Du Toit, on behalf of your correspondent's client, Mr Nyakane. Both firms are registered VAT vendors Stormers Attorneys paid the VAT liability for April 2021 on 30 April 2021 The balance per the business bank reconciliation statement for Stormers Attorneys was R23 000 at 31 March 2021. There were no reconciling items at that date You draft the following statement to Bulls Attorneys on 23 April 2021 Account Statement - Bulls Attorneys 416 Kirkness . You are required to prepare all the relevant accounting entries related to the statement above in the following records of Stormers Attorneys for April 2021: Books of primary entry (Business Cash Book & Trust Cash Book only - it is not necessary to show other journal entries) . General Ledger - VAT Control Account, . Business Debtor (Client) Ledger Trust Creditor Ledger Arcadia Pretoria von . 23 April 2021 Fritz Sonnenberg Rd, Green Point, Cape Town, 8051 Take note: should the amount applicable to a transaction include cents, round off your answer to the nearest full rand. ZAR Debit Credit RE: Collection - Mr Du Toit vs Mr Nyakane 950 000 000 en 61 S60 Cash collected from Du Toit Fees for issuing summons (including VAT) 580.00 68 400 400,00 Collection commission (including VAT) Correspondent's allowance (including VAT) ? Proof of Electronic Funds Transfer herewith ? ? ? Bulls Attorneys are granted a 15% correspondent allowance on all income earned by Stormers Attorneys as a direct result of services performed with regards to the above matters, in line with the signed agreement between the two firms