QUESTION $1[17$ MARKS$]$

Instruction:

Analyse the transactions of Cellcom Traders using the columns in the template given below. Cellcom

Traders buy and sell cell phones.

No$.$ Account debited Account credited

A OE L Amount

Note: The bank will remain favourable for all transactions. The mark$-$up used is $80\%$ on cost$.$ The year ended is $30$ September $2023.$

Transactions

$1\mathrm{.}1$ Credit card sales not yet recorded, R$2016.$

$1\mathrm{.}2$ B$.$ Richardson $($the owner$)$ took a cell phone for his son. The phone originally cost R$700$ and has a retail price of R$1250.$

$1\mathrm{.}3$ It was discovered that the stationery purchased on $26$ September $2023$ for R$650$ was entered into

the Trading inventory column in the Cash Payments Journal for September. Correct the error.

$1\mathrm{.}4$ D$.$ Fraud, a debtor, had previously sent us a cheque for R$475$ in settlement of his account after

allowing a $5\%$ discount. This had been recorded correctly. The cheque has now been returned by the bank marked R$/$D on account of insufficient funds. The discount must also be cancelled.

QUESTION $2[$