The following totals were obtained from the subsidiary journals of Bernet

Traders for February 2008

The business maintains a mark-up of 25% on cost price. The VAT is 15% where
applicable.
CASH RECEIPTS JOURNAL
Date Details Bank Sales C.O.S. VAT Debtors Disc Sundry
allowed

TOTAL 62 840 33 193 5 090 90 20 000

CASH PAYMENTS JOURNAL

Date Details Bank Trading VAT Credit Discount Sundry Details of
Inventory ors received Sundry
7 500 Equipment
7 500 Rent paid
TOTAL 16 761 4 758 8 340 40 15 000

DEBTORS JOURNAL
Date Detail Total Sales VAT Cost of Sales

TOTAL 50 000

CREDITORS JOURNAL
Date Details Creditors Trading VAT Stationery Sundry Details of
Inventory Sundry
30 000 Equipment
TOTAL 100 000 19 508 50 30 000

DEBTORS ALLOWANCE JOURNAL

Date Details Total Debtors VAT Cost of sales
Allowance(sales
returns)

TOTAL 10 260 ?
 CREDITORS ALLOWANCE JOURNAL
Date Details Creditors Trading VAT Stat.
Inventory

TOTAL 23 000 20 000

Required to:
Post the totals of the subsidiary journals to the following accounts.

Bank
b) Trading inventory
c) Debtors control
d) VAT control
e) Creditors control

NB: (All calculations to the nearest Rand)

Balancing off the accounts is NOT required.