Question 2 (28 marks)

During February 2021, the following occurred in the business of Kutako Trading, a general dealer: 1. Mr Kutako deposited an amount of N$200 000 into the bank account of the business 2. Paid for an advertisement on Facebook using the debit card of the business, N$1 250. 6. Sold goods on credit to Mr Hosea, N$100 000 (cost price, N$80 000) 7. Paid for repairs to Mr Kutakos personal vehicle N$3 250 by electronic funds transfer (EFT) 10. Purchased goods on account from H. Hauifiku, N$150 000 12. Mr Hosea returned damaged goods worth N$5 000 (cost price N$3 000) 15. Mr Hosea deposited N$92 000 directly into the account of the business in full settlement of his account. 20. Returned damaged goods to H. Hauifiku and received a credit note, N$20 000. 28. Received interest on the positive balance in the bank account N$2 500 Kutako Trading uses the perpetual system to account for inventory.

Required: Record the above transactions in the general ledger of Kutako Trading and balance the ledger accounts. Note: Where an account only has one transaction, it is not necessary to balance that account. Where an account affects a receivable or payable, please indicate clearly whether it is a receivable or payable