You are given the following information for PL Stores which uses the perpetual inventory system (VAT may be ignored in this question) R Inventory (1 July 201) 100 000 Transactions for the year ended to 30 June 20.2: Credit purchases 30 000 Cash purchases 10 000 Credit sales (mark-up percentage on cost price is 30%), 26 000 Cash sales (mark-up percentage on cost price is 30%) 78 000 Additional information The owner of PL Stores took inventory with a cost price of R2 000 for his own personal use A client of PL Stores returned merchandise to the value of R1 300. The merchandise was for cash Which one of the following general ledger accounts represents the correct entries of the above transactions in the inventory account? A. Dr Inventory B5 R R 20:2 June 1 Balance bld 100 000 30 20.1 July 20.2 June Cost of sales Cost of sales Drawings Balance 20 000 50 000 2 000 138 000 30 Trade payables control Bank cid 30 000 10 000 140 000 140 000 0 0 Additional information The owner of PL Stores took inventory with a cost price of R2 000 for his own personal use. A client of PL Stores returned merchandise to the value of R1 300. The merchandise was previously bought for cash Which one of the following general ledger accounts represents the correct entries of the above transactions in the inventory account? A Dr Inventory Cr B5 R R 1 Balance 20.1 July 20.2 June 20.2 June bid 100 000 30 30 Trade payables control Bank Cost of sales Cost of sales Drawings Balance 20 000 60 000 2 000 138 000 eld 30 000 10 000 140 000 140 000 20.2 July 1 Balance bid 138 000 B. Dr Inventory 35 Cr R R 20.2 June 1 Balance bid 100 000 30 20.1 July 20.2 June Cost of sales Cost of sales Balance 20 000 60 000 60 000 30 Trade payables control Bank 30 000 10 000 140 000 140 000 20.2 July 1 Balance bid 60 000 C. Dr Inventory B5 Cr R R 1 20.2 June Balance 20.1 July 20.2 June bld 100 000 30 bld 30 Cost of sales Cost of sales Drawings Balance 20 000 60 000 2 000 59 000 Trade payables control Bank Cost of sales cld 30 000 10 000 1 000 141 000 141 000 20.2 July 1 Balance bld 59 000 Inventory B5 D. Dr Cr R R 20.2 June 20.1 July 30 1 bid 100 000 Cost of sales Cost of sales Drawings Balance 20 000 60 000 2 000 59 000 Balance Trade payables control Bank Cost of sales c/d 30 000 10 000 1 000 141 000 141 000 20.2 July Balance bid 59 000 Cost of sales 141 000 1 000 141 000 20.2 July 1 Balance bld 59 000 Inventory B5 E Dr Cr 20.1 20 20.2 R 1 Balance b/d 100 000 June 30 bid July 20.2 June 30 Cost of sales Cost of sales Cost of sales Balance 20 000 60 000 1 000 59 000 Trade payables control Bank cid 30 000 10 000 140 000 140 000 59 000 1 Balance bid 20.2 July Reset Soledo Question 20 of 20 Points