Tom purchased raw materials for 3,760 from Harry and used them to manufacture goods which were sold
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Tom purchased raw materials for £3,760 from Harry and used them to manufacture goods which were sold to Dick for £9,870. Harry and Tom are VAT registered, but Dick is not. Prices stated are inclusive of VAT at 17.5%. The VAT cheque to be sent by each party to the VAT department is:
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Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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