From the following day book extracts, construct a VAT account for the month of March 2005.

Additional information:
(i) VAT owing as at 1 March 2005 was £320.
(ii) Cash sales inclusive of VAT for March totalled £1,270.
(iii) Petty cash expenses incurred in March totalled £123 inclusive of VAT (which can be reclaimed).

Transcribed Image Text:

Net figures (before addition of VAT) for March 2005 Sales for month Purchases for month Returns inwards for month Returns outwards for month 3,240 2,850 214 180