Question: QUESTION TWO On 1 4 February 2 0 2 4 , a vendor bought a gaming laptop at a cost price of R 1 8

QUESTION TWO
On 14 February 2024, a vendor bought a gaming laptop at a cost price of R18000 exclusive of VAT and paid the wholesaler R20700. On 27 February 2024, the vendor sold the gaming laptop to a customer for R26450(inclusive of VAT) cash. Assume that the periodic inventory method is in use and that this was the only transaction in February 2024.
Required:
2.1 Show the journal entries to record the purchase and sale of the gaming laptop during February 2024. Thereafter, record the entries for the payment of VAT to SARS on due date 20 March 2024. Please tabulate the solution
QUESTION TWO On 1 4 February 2 0 2 4 , a vendor

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