QUESTION 3 (20 marks) (24 minutes) Commence this question on a new (separate) page. The following information pertains to Zama Traders The entity uses the penodic inventory system and is not registered as a VAT vendor Transactions for March 2012 March 5 Issued an invoice to N Passin for merchandise to the value of R1 300 sold to him 7 Cash sales of trading inventory, R560 10 Received an invoice from Style Furnishers for an office desk purchased, R1 330 17 Issued a cheque for R1 500 to Compute Traders, a trade creditor, as part payment of the entity's account 20 Cashed a cheque for R2 500, for monthly wages of R2 000 The balance was for the owners own use 21 Rendered services to A Prince and received his payment of R350 24 Issued a receipt to G Ramayent for R850, for a payment received on his account 26 Purchased merchandise on credit from SS Traders, R2 140 31 Paid the water and electricity account of R1 755 by means of an electronic transfer to Electric Meter Readers (3) REQUIRED: 31 Enter the above transactions in the following journals of Zama Traders for March 2012 311 Cash receipts journal Make provision for the following columns day, details, bank, sales, services rendered and debtors control Total only the debtors control column 312 Cash payments journal Make provision for the following columns day, details, bank, creditors control, purchases and sundry accounts Total only the creditors control column 313 Sales journal Make provision for the following columns day, details, sales and debtors control Total only the debtors control column 314 Purchases journal Make provision for the following columns day, details purchases and creditors control Total only the creditors control column 315 General journal (5) (1) (1) (2) 32 Open the debtors- and creditors control accounts in the general ledger of Zama Traders (Opening balances Debitors control, R4 650 and Creditors control, R2 550) and post the applicable totals from the journals done for March 2012 to them Properly balance the accounts at 31 March 2012 (8) [20] NB: Show all calculations