Question 2 (20) SUBSIDIARY JOURNALS (Textbook chapter 4, SG chapter 4) Otho owns a pet shop, Nero Enterprises. The entity uses the perpetual inventory system to manage its inventory. All inventory sold is sold at 33% markup on cost. Nero Enterprises is not registered as a VAT vendor, as the annual turnover is not expected to exceed R1 000 000. The entity also decided not to voluntary register for VAT. The following is a summary of the source documents you received from Otho for April 2020: 1 The owner, Otho, deposited R46 000 in the bank as a further capital contribution. Receipt no. 116: Cash sales, R17 024. 3 Cheque no. 197: Purchased a computer from Pertinax for R14 000. 6 Supplier invoice C0222: Purchased inventory from Commodus, R38 000. Cheque no. 198: Paid the municipality for rates, R11 160. 13 Credit invoice 1120: Sales to Mr Galba, R12 768. 14 Cheque no. 199: Payment to Commodus for 50% of the invoice received on 6 April 2020. 15 Supplier invoice P6811: Received from Nexis for cleaning material, R2 000, as well as trading inventory, R28 657. 20 Cheque no. 200: Purchased inventory from Ela, R14 916. 28 Receipt no. 117: Received R10 100 from Mr Severus, a debtor. Receipt no. 118: Cash sales, R11 172. This amount was banked with the money as per receipt no. 117. 29 Credit invoice 1121: Issued to Macrinus, R18 221. 30 Cheque no. 201: Cash salaries for the month, R16 860. On inspection of the bank statement, it is noted that the following transactions are reflected only on the bank statement: deposit of R198 as interest on the favourable bank balance and R85 as the monthly bank fees. Required: Record the transactions in the correct subsidiary journals. 2.1. Cash Receipts Journal 2.2. Cash Payments Journal 2.3. Debtors/Sales Journal 2.4. Creditors/Purchases Journal (11) (9) (4) (4) Question 3 [15] GENERAL LEDGER (Textbook chapter 5, SG chapter 5) Hadrian Dealers employs a full-time bookkeeper. However, the bookkeeper fell ill and Claudius, the owner, approached you for assistance. He is unsure of how to enter the subsidiary journals into the general ledger accounts