question 4 (27) Mr Byte is the owner of transcend traders. a computer shop that has been trading for the past 5 years. Transcend Traders uses the periodic inventory system to record its inventory. the entity is Not a registered VAT. according to the accounting policies of the entity. depreciation must be provided for at 25% on motor vehicles.using the reducing balance method and 20% o furniture and fittings, using the cost method.at the end of each year. the provision for credit losses must be adjusted to 2% of total outstanding debtors. required: prepare the statement of financial position / balnce sheet of Trandacend Traders as at 31 july 2020