Peter a qualified electrical engineer was retrenched in January $20\mathrm{.}2$ and he received a retrenchment package of R$1000000.$ PG Electricians will also do installations of solar panels.PG Electricians will use the periodic inventory system.

The following transactions occurred in the books of PG Electricians during the month of February $20\mathrm{.}2$:

Transaction

Details

$1$

He decided to open his own business PG Electricians on $1$ February $20\mathrm{.}2$ and deposited $45\%$ of his retrenchment package into PG Electricians business bank account.

$2$

Peter donated five non$-$contact voltage testers worth R$1000$ to the business.

$3$

For the month of February $20\mathrm{.}2,$ PG Electricians rendered services for cash to the value of R$500000.$

$4$

Peter used his business banking app to buy desk and typist chair for the receptionist from WR Equip for R$7500.$

$5$

Peter used his business banking app to purchase R$3000$ prepaid airtime for the electricians he hired.

$6$

He installed $12$ solar panels, two batteries and $1$ inverter for a total cost of

R$120000$ at Mrs Thomas's home on $28$ February $20\mathrm{.}2.$ Mrs Thomas has not yet paid.