Shabangu Suppliers (not a registered VAT vendor) is a retail entity situated in the Limpopo province. The perpetual inventory system is in use and merchandise are sold at a 20% mark-up on cost. The following transactions took place during May 2023:

Date	Transaction	R
6	Purchased merchandise from Matsene traders and paid cash.	7 548
15	Sold merchandise to Mr Hall for cash	2 568
29	Purchased merchandise from Zittace traders on account.	10 800
31	Returned merchandise purchased on credit to Zittace traders	2 703

The opening balance of the inventory account on 1 May 2023 was R5 411

Required:

Post the above transactions to the general ledger account 

Answer rating: 100% (QA)

Heres how the transactions would be posted to the general ledge... View the full answer