QUESTION ONE

$(20$ MARKS$)$

THE FOLLOWING INFORMATION WAS EXTRACTED FROM THE RECORDS OF UNITY SUPPLIERS $28$ FEBRUARY $2020$

$\backslash$table$[[,$R$],[$Inventory $(1$ March $2019),43000],[$Trade receivables,$150000],[$Trade payables,$65000],[$Purchases$,174000],[$Purchases returns,$4100],[$Settlement discount granted,$3217],[$Freight on sales,$14100],[$Sales returns,$2300],[$Insurance expenses,$48160],[$Settlement discount received,$1000],[$Allowance for credit losses,$1900],[$Allowance for settlement discount granted,$4500],[$Carriage on purchases,$200],[$Insurance on purchase,$1300],[$Bank$,112580]]$

Additional information:

On $28$ February $2020$ the inventory on hand amounted to R$65000$

Included in the amount of inventory on hand is consumables and stationery amounting to R$2080$ and R$800$

The owner took some of the stock bought for $R3800$ as a gift for his aunt.

Unity Supplies were offered a discount of $10\%$ on an amount of $R9500$ owing to a supplier provided the supplier is paid before $28$ February $2020.$ Unity Supplies intends taking the advantage of the discount offered.

Unity maintains a mark$-$up on sales $($margin$)$ of $40\%.$

The balance of the allowance for settlement discount granted account on $1$ Jan $2020$ must be written back since the trade debtor to whom the discount offering pertained did not settle his account as required. On $31$ December $2020,$ a trade debtor who owes R$34000$ was offered a $5\%$ settlement discount, on condition that she settles her account before $15$ January $2021.$ This offering must still be provided for.

Required

Determine the Revenue Amount for the year ended $28$ February $2020.$