Question $4($Marks: $30)$Riley$$s Traders is a registered VAT vendor, and all transactions include $15\%$ VAT unless otherwisespecified. The accountant of Riley Traders is in the process of reconciling the Debtors Controlaccount balance with the Debtors List as at $30$ June $2024.$ The balance of the Debtors Controlaccount at $30$ June $2024$ is R$125435$ before any adjustments.The business has prepared the following Age Analysis at the end of June $2024$:Debtors Age Analysis of Riley$$s Traders as at $30$ June $2024$Terms $90$ days$+60$ Days $30$ days Current TotalAtlas Group $30$ days $161074751431023395$Benji Traders Current $0(1610)287501265$Dawson CC $30$ days $0239055201460022510$Ferndale Traders $30$ days $00517523007475$Magnolia Traders $30$ days $1840000018400$Rawson Stores $30$ days $016507800540014850$Rivers Wholesalers $30$ days $5602601543016250$TOTALS $1840046002910552040104145\%$ of total debt $18\%4\%28\%50\%$The accountant has discovered the following adjustments that still need to be processed:$1.$ The total of the Debtors Control column in the Debtors Journal $($R$345000)$ has beentotalled incorrectly and understated by R $2000\mathrm{.}2.$ A deposit of R$2390$ was received from Dawson CC but was recorded in the Cashbook receipts as being received from Rawson Stores. It was subsequently thenposted to Rawson Stores$$ account in the Debtors Ledger and has been aged as apayment of a current invoice$\mathrm{.}3.$ Rivers Wholesalers returned goods during the month and was issued Credit NoteCN$3256$ to the value of R$644.$ The credit note was captured in error in the DebtorsJournal and posted as a duplicate credit invoice.

$242024$ The Independent Institute of Education $($Pty$)$ Ltd $2024$Page $8$ of $124.$ The accountant queried the $60$ days balance outstanding in Atlas Group$$s account.She discovered that this related to a query from Atlas Group where they disputedreceiving the goods. She investigated further and discovered that the goods werefor the account of Benji Traders and that the invoice had been posted to theincorrect account in the Debtors Ledger$\mathrm{.}5.$ Riley Traders also makes credit purchases from Ferndale Traders. The balance ofFerndale Traders account in the Creditors Ledger at $30$ June $2024$ was R$8500.$Ferndale Traders has agreed that the balances in the Creditors and Debtors ledgercan be set off. This entry must still be recorded$\mathrm{.}6.$ Riley Traders was informed at the end of June $2024$ that Magnolia Traders has goneinto liquidation and only $20$ cents in the rand of the debt outstanding will berecoverable once the liquidation is finalised. The accountant has decided totherefore write off the irrecoverable portion at $30$ June $2024.$ This entry must stillbe processed$\mathrm{.}7.$ The total of the Debtors Control column of R$15295($before adjustments$)$ in theDebtors Allowance Journal was posted to the incorrect side of the DebtorsControl$\mathrm{.}8.$ A deposit of R$8395$ relating to a cash sale was recorded in error in the DebtorsControl column instead of the Sales column in the Cash book Receipts. VAT for thetransaction was recorded correctly.Required:Q$\mathrm{.}4\mathrm{.}1$ Riley Trader$$s normal terms are $30$ days. Looking at the Debtors Age Analysis,calculate how much Rawson Stores should pay by early July $2024$ in order to bringtheir account back in line with normal terms of $30$ days.$(2)$Q$\mathrm{.}4\mathrm{.}2$ Riley Trader has a large percentage of their total debtors$$ balance which isoverdue. How can Riley Traders encourage their debtors to settle their overduebalances?$(3)$

$242024$ The Independent Institute of Education $($Pty$)$ Ltd $2024$Page $9$ of $12$Q$\mathrm{.}4\mathrm{.}3$ Using the information above, calculate the correct closing balance for the DebtorsControl account in the general ledger at $30$ June $2024.$ Your answer should be inthe table format below. If the adjustment has no impact on the Debtors Controlbalance, insert a $0$ in one of the debit or credit columns.Note: Amounts in the $$Balance$$ column are only required for the $$Balance as at$30$ June $2024$ and the $$Corrected balance as at $30$ June $2024$ lines.$(12(1)/(2))$Debtors ControlAdjustment No and workingsDebit$($R$)$Credit$($R$)$ Balance$($R$)$Balance as at $30$ June $20241234567$Corrected balance as at $30$ June $2024$Q$\mathrm{.}4\mathrm{.}4$ Prepare the corrected Debtors List as at $30$ June $2024,$ showing all adjustments.Total the list. You should set out your answer as below.Debtor UnadjustedbalanceAdjustments AdjustedBalanceDebit CreditRemember to Show all your workings and round all answers to the nearest rand.$(12(1)/(2))$

$242024$ The Independent Institute of Education $($Pty$)$ Ltd $2024$Page $10$ of $12$Question $5($Marks: $25)$Mzansi Manufacturers is a manufacturing business that produces products for the motor industry.Mzansi Manufacturers uses a perpetual inventory system. Mzansi Manufacturers is a registeredVAT vendor and only deals with other VAT vendors. VAT of $15\%$ applies to all applicabletransactions.The following information is available for a creditor, VBS Brakes, for the month of June $2024.$Balance owing to VBS Brakes as at $01$ June $2024$ was R$28700.$Transactions for the month of Jr