QUESTION 5-12 marks (3 mark) Malete Traders uses the periodic system to record inventory. The business is a reg- istered VAT vendor. Assume VAT at 14%. The following transactions took place during March 2016 in the records of Malete Traders. Malete Traders had a R60 000 (Cr) balance on its SARS (VAT) account on 1 March 2016. 1. Malete Traders buys trading stock for cash from the suppliers for R22 800. 2. Malete Traders buys trading stock on credit from the suppliers for R34 200. 3. Cash sales R41 040. 4. Credit sales R43 320. 5. Pay salaries R60 000 by cheque. 6. Issue a cheque for R60 000 to SARS, in payment of the VAT owing on 1 March 2016. 7. Buy equipment for R9 120 and pay by cheque. 8. The owner Mr. Malete withdraws trading stock for his personal use R11 400. 9. Pay wages by cheque - R3 600 YOU ARE REQUIRED TO: 1. Prepare the following ledger accouns in the General ledger of Malete Traders. Balance the accounts - 12 marks. TTM200T/TRF205D/CLR200T/ ECQ200T - ASSIGNMENT 4 9 SARS (VAT) Control