QUESTION 2: IGNORE VAT (18 MARKS; 32 MINUTES) Classic Toys is a business started by Cleo Papier and trades in rare toys. The business maintains a consistent mark-up of 25% on cost. The following transactions were entered into during the month of June 2020: 9 On 1 June 2020, the business had opening inventory of 15 units valued at R350 per unit. On 2 June 2020, the business sold all 15 units that were unsold at the beginning of the month. A trade discount of 10% was offered to the customers together with a 5% discount if the customers paid cash. All the customers decided to take advantage of the cash discount. On 10 June 2020, the business purchased 18 units of inventory at a cost of R15 300 on credit. The supplier allows Classic Toys to pay 30 days from the date of the invoice. However, a 7.5% settlement discount was offered to the business if they made payment within the next 15 days. The business decided not to take advantage of the settlement discount. On 15 June 2020, the business sold 10 units on credit with an original cost of R850. It is customary to offer all customers a 2.5% settlement discount if payment is made within 10 days. Based on history, the majority of the customers have taken advantage of the settlement discount. On 20 June 2020, made payment for the inventory purchased on 10 June 2020. On 23 June 2020, 50% of the customers who made a purchase on 15 June 2020 made payment, while the remaining 50% of the customers made payment on 30 June 2020. REQUIRED: Journalise the above transactions utilising the perpetual inventory system. (18 Marks)