B Traders bought laptops from SK Office Equipment for R23 000 (VAT inclusive) on credit. The...

  

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B Traders bought laptops from SK Office Equipment for R23 000 (VAT inclusive) on credit. The VAT rate applicable is 15%. What will the entry be in the applicable subsidiary journal? A. Journal Purchases journal B. Journal General journal C. Journal General ledger accounts VAT input VAT output Equipment Trade payables control R R R R 3 000 20 000 23 000 General ledger accounts VAT input VAT output Equipment Trade payables control R R R R 3 000 20 000 23 000 General ledger accounts VAT output Equipment Trade payables control R R R 20 000 23 000 VAT input R General journal 3 000 D. Journal General ledger accounts VAT input R Purchases journal 3 000 E. Journal General journal VAT output Equipment Trade payables control R R R 20 000 23 000 General ledger accounts VAT input R VAT output Equipment Trade payables control R R R 20 000 23 000 B Traders bought laptops from SK Office Equipment for R23 000 (VAT inclusive) on credit. The VAT rate applicable is 15%. What will the entry be in the applicable subsidiary journal? A. Journal Purchases journal B. Journal General journal C. Journal General ledger accounts VAT input VAT output Equipment Trade payables control R R R R 3 000 20 000 23 000 General ledger accounts VAT input VAT output Equipment Trade payables control R R R R 3 000 20 000 23 000 General ledger accounts VAT output Equipment Trade payables control R R R 20 000 23 000 VAT input R General journal 3 000 D. Journal General ledger accounts VAT input R Purchases journal 3 000 E. Journal General journal VAT output Equipment Trade payables control R R R 20 000 23 000 General ledger accounts VAT input R VAT output Equipment Trade payables control R R R 20 000 23 000

Answer rating: 100% (QA)

The Correct Option is Option D Other Options are Incorrect as ... View the full answer