Africa Traders is a registered VAT vendor and uses periodic inventory system. Africa Traders buys and sells furniture and equipment to customers for cash or on credit. Africa Traders sold the following items:
Africa Traders is a registered VAT vendor and uses periodic inventory system. Africa Traders buys and sells furniture and equipment to customers for cash or on credit. Africa Traders sold the following items:
- Tables and chairs for an amount of R11 879,84 exclusive of VAT to Mrs. South Africa on 24 February 2021 on credit. These tables and chairs original cost to Africa Traders was R7 200 excluding VAT and these items were purchased for trade purposes.
- A Double door fridge for an amount of R9 104,91 exclusive of VAT to SA Dealers on 25 February 2021 on account. A Double door fridge original cost to Africa Traders was R6 500 excluding VAT and this item was purchased for trade purposes.
- Office Coffee table for an amount of R6 200,00 excluding VAT to Mr. South Africa on 26 February 2021 on account. Office Coffee table original cost to Africa Traders was R4 500 excluding VAT and it was previously purchased by Africa Traders for non-trade purposes.
Which of the following options presents the correctly prepared Sales journal of Africa Traders for the month ending 28 February 2021?
SALES JOURNAL – February 2021 SJ1
|
Day |
Details |
Fol. |
VAT Output |
Sales |
Trade receivables |
|
24 |
Mrs. South Africa |
DL1 |
R1 781,98 |
R11 879,84 |
R13 661,82 |
|
25 |
SA dealers |
DL2 |
R1 365,74 |
R9 104,91 |
R10 470,65 |
|
26 |
Mr. South Africa |
DL3 |
R930,00 |
R6 200,00 |
R7 130,00 |
|
|
Totals |
|
R4 077,72 |
R27 184,75 |
R31 262,47 |
SALES JOURNAL – February 2021 SJ1
|
Day |
Details |
Fol. |
VAT Output |
Sales |
Trade receivables |
|
24 |
Mrs. South Africa |
DL1 |
R1 781,98 |
R11 879,84 |
R13 661,82 |
|
25 |
SA dealers |
DL2 |
R1 365,74 |
R9 104,91 |
R10 470,65 |
|
|
Totals |
|
R3 147,72 |
R20 984,75 |
R24 132,47 |
SALES JOURNAL – February 2021 SJ1
|
Day |
Details |
Fol. |
VAT Output |
Sales |
Trade receivables |
|
24 |
Mrs. South Africa |
DL1 |
R1 549,54 |
R10 330,30 |
R11 879,84 |
|
25 |
SA dealers |
DL2 |
R1 187,60 |
R7 917,31 |
R9 104,91 |
|
26 |
Mr. South Africa |
DL3 |
R808,70 |
R5 391,30 |
R6 200,00 |
|
|
Totals |
|
R3 545,84 |
R23 638,91 |
R27 184,75 |
SALES JOURNAL – February 2021 SJ1
|
Day |
Details |
Fol. |
VAT Output |
Sales |
Trade receivables |
|
24 |
Mrs. South Africa |
DL1 |
R1 549,54 |
R10 330,30 |
R11 879,84 |
|
25 |
SA dealers |
DL2 |
R1 187,60 |
R7 917,31 |
R9 104,91 |
|
|
Totals |
|
R2 737,14 |
R18 247,61 |
R20 984,75 |
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