Question $4$

$($Marks: $45)$

Below is the pre$-$adjustment trial balance of Radars Traders as at $30$ September $2024.$ The

business makes use of the perpetual inventory system.

The owner took trading inventory with a cost price of R$2000$ for his own personal use. This has not been adjusted for yet. $2.$ According to the physical stock count at year end, the following was on hand: $$ Trading inventory: R$86700$ Consumable stores: R$35603$ A new vehicle was purchased on $1$ July $2024$ at a cost of R$250000.$ This has been correctly recorded in the accounting records. There were no other movements in non$-$current assets during the year. $4.$ Depreciation rates are as follows: $$ Equipment: $20\%$ per annum on the straight$-$line basis. $$ Vehicles: $25\%$ per annum on the diminishing balance method Depreciation on non$-$current assets on hand at year$-$end must still be accounted for. $5.$ The September electricity invoice for R$3100$ was only received on $5$ October and must still be accounted for. $6.$ Management reviewed the Debtors Age Analysis at year$-$end and has decided the Allowance for credit losses should be R$5300.7.$ A service income invoice, issued on $25$ September $2024,$ was omitted in error from the September Debtors journal. The value of the invoice was R$5800.8$ Interest on Loan is calculated at $10\%$ per annum. The loan was negotiated and received on $1$ August $2024.$ The first capital repayment of R$10400$ was made on $1$ September $2024.$ Further monthly repayments of R$10400$ are due from $1$ October $2024($use $366$ days for interest calculations$).9.$ The owner made a capital contribution of R$10000$ cash on $15$ August $2024.$ The sales account was credited in error with this amount and must still be corrected. Ignore VAT

Prepare the general journal entry for adjustment eight above. Journal narrations are not required. $(3(1)/(2))$ Round to the nearest rand.