Write journals to post the following transactions. (VAT is chargeable at 20 per cent.)
1. The purchase of a motor vehicle for £12,000 (gross) in cash.
2. The purchase of goods for £500 (net price quoted).
3. The sale of goods – net value £2,000 – for cash.
4. The sale of goods – net value £3,500 – on credit to S. Silver.