THE FOLLOWING INFORMATION WAS EXTRACTED FROM THE RECORDS OF UNITY SUPPLIERS $28$ FEBRUARY

$2020$

R

Inventory $(1$ March $2019)43000$

Trade receivables $150000$

Trade payables $65000$

Purchases $174000$

Purchases returns $4100$

Settlement discount granted $3217$

Freight on sales $14100$

Sales returns $2300$

Insurance expenses $48160$

Settlement discount received $1000$

Allowance for credit losses $1900$

Allowance for settlement discount granted $4500$

Carriage on purchases $200$

Insurance on purchase $1300$

Bank $112580$

Additional information:

$1.$ On $28$ February $2020$ the inventory on hand amounted to R$65000$

$2.$ Included in the amount of inventory on hand is consumables and stationery amounting to R$2080$ and

R$800$

$3.$ The owner took some of the stock bought for R$3800$ as a gift for his aunt.

$4.$ Unity Supplies were offered a discount of $10\%$ on an amount of R$9500$ owing to a supplier provided

the supplier is paid before $28$ February $2020.$ Unity Supplies intends taking the advantage of the

discount offered.

$5.$ Unity maintains a mark$-$up on sales $($margin$)$ of $40\%.$

$6.$ The balance of the allowance for settlement discount granted account on $1$ Jan $2020$ must be written

back since the trade debtor to whom the discount offering pertained did not settle his account as

required. On $31$ December $2020,$ a trade debtor who owes R$34000$ was offered a $5\%$ settlement

discount, on condition that she settles her account before $15$ January $2021.$ This offering must still be

provided for.

Required

Determine the Revenue Amount for the year ended $28$ February $2020.$