Question: >> Activity 2.7 Interpret the transactions according to the table below. An example has already been completed. Example Sold trading stock for cash, R120 (cost

>> Activity 2.7 Interpret the transactions according to the table below.

>> Activity 2.7 Interpret the transactions according to the table below. An example has already been completed. Example Sold trading stock for cash, R120 (cost price R80) General Ledger No. Account Account debited credited e.q. Bank Sales Assets Effect Reason Owner's Equity Effect Reason +40 Profit earned + 120 -80 Cost of sales Trading stock Cash increased Trading stock decreased Transactions 1. Sold trading stock for cash, R230 (cost price R100). (10) 2. Issued a cash register slip for the sale of goods to the value of R368. (The business maintains a profit margin of 60% on cost price.)

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