Question
The following information relates to Fruit and Veggie Spaza Shop, who is registered as a VAT vendor (The VAT rate applicable is 15%). The periodic
The following information relates to Fruit and Veggie Spaza Shop, who is registered as a VAT vendor (The VAT rate applicable is 15%). The periodic inventory system and control accounts are in use: (The VAT period of the business ends on equal months.) FRUIT AND VEGGIES SPAZA SHOP EXTRACT OF BALANCES AS AT 31 AUGUST 20.20 R VAT input 13 500 VAT output 67 500 Additional information that still needs to be taken into account: On 24 August, a desk was purchased on credit from Cabbage Furniture, R139 380. Which one of the following options represents the correct general journal entries for the desk purchased for Fruit and Veggies:
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