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Exercise 8: Posting records for business transactions (part 3) The company Young Furniture has the following business transactions in the year 01. Always assume the standard VAT rate of 19% The business year is the same as the calendar year Form the posting records for the following business transactions. 1 The company buys a company car worth 65.000 (net) on credit 2 The company pays its outstanding invoice of 2380 by bank transfer 3. The company buys raw material with the value of 11.900 (gross amount). Payment is made directly by bank. 4. The company returns unusable merchandise due to defects to the supplier and receives a price reduction of 500 (net). The purchase of the merchandise on credit was already booked 5. The company buys merchandise with a value of 30.000 (net) on credit and receives a rebate by the supplier of 15%