Question 2 Boobah Blossom Traders is a registered VAT Vendor situated in Bloemfontein. All debtors and creditors are registered for VAT, and deal in standard rated supplies only. VAT is charged at 15%. Boobah Blossom Traders uses the periodic inventory system. Lerucci Ltd has a balance owing to them of R3 500 at 30 April 2023. The following transactions took place during the month of May 2023 relating to the sale and purchase of goods: Date 5 6 7 12 13 19 29 Transaction Purchased goods on credit from Lerucci Ltd for R5 000 excluding VAT. Sold goods on credit to Mr Venice for R1 380 including VAT. The invoice for goods purchased from Lerucci Ltd was undercast by R2 300 including VAT. Purchased goods on credit from EEE Traders for R10 000 excluding VAT. Sold goods on credit to Miss Jacks for R4 600 including VAT. EFT made to Lerucci Ltd for 50% of the amount owing. Purchased goods on credit from VTM Ltd for R3 450 (including VAT). Required: 2.1 Prepare the following subsidiary journals for Boobah Blossom Traders for May 2023: 2.1.1 Debtors Journal. 5 marks 2.1.2 Creditors Journal. 10 marks The journals do not need to be totalled. The document number and folio columns do not need to be completed. 2.2 Calculate the balance on Lerucci Ltd's account at the end of May 2023. 5 marks

Question 2 Boobah Blossom Traders is a registered VAT Vendor situated in Bloemfontein. All debtors and creditors are registered for VAT, and deal in standard rated supplies only. VAT is charged at 15%. Boobah Blossom Traders uses the periodic inventory system. Lerucci Ltd has a balance owing to them of R3 500 at 30 April 2023. The following transactions took place during the month of May 2023 relating to the sale and purchase of goods: Date Transaction 5 Purchased goods on credit from Lerucci Ltd for R5 000 excluding VAT. 6 Sold goods on credit to Mr Venice for R1 380 including VAT. 7 The invoice for goods purchased from Lerucci Ltd was undercast by R2 300 including VAT. 12 Purchased goods on credit from EEE Traders for R10 000 excluding VAT. 13 Sold goods on credit to Miss Jacks for R4 600 including VAT. 19 EFT made to Lerucci Ltd for 50% of the amount owing. 29 Purchased goods on credit from VTM Ltd for R3 450 (including VAT). Required: 2.1 Prepare the following subsidiary journals for Boobah Blossom Traders for May 2023: 2.1.1 Debtors Journal, 5 marks 2.1.2 Creditors Journal. 10 marks The journals do not need to be totalled. The document number and folio columns do not need to be completed. 2.2 Calculate the balance on Lerucci Ltd's account at the end of May 2023. 5 marks