Africa Traders, NOT a registered VAT vendor, manufactures and sells tables and chairs. The VAT rate is 15%. AFRICA TRADERS 700 Narrow Drive P O Box 217 PRETORIA PRETORIA 0001 Tel (012) 433–1615 Fax (012) 433–1616 Date: 20 January 2021 TAX INVOICE No: 014 To: SA Traders 169 Tshwane Drive Pretoria VAT registration number 4960225750 Payment method Cheque/debit card Cash Credit card Account Code Description Qty Total price TC20 Office table and chair 1 6 900,00 6 000,00 Invoice total 6 900,00 Amount tendered 6 900,00 Change 0,00 E & OE Which account will be debited and which account will be credited in the accounting records of Africa Traders when recording the above source document? Select one: a. Debit the Bank account with R6 900, and credit the Sales account with R6 000 and the VAT output account with R900. b. Debit the Bank account with R6 900, and credit the Sales account with R6 900. c. Debit the Sales account with R6 900, and credit the Bank account with R6 900. d. Debit the Sales account with R6 000 and the VAT output account with R900, and credit the Bank account with R6 900.
Africa Traders, NOT a registered VAT vendor, manufactures and sells tables and chairs. The VAT rate is 15%.
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AFRICA TRADERS |
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700 Narrow Drive P O Box 217 PRETORIA PRETORIA 0001 Tel (012) 433–1615 Fax (012) 433–1616 |
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Date: 20 January 2021 |
TAX INVOICE |
No: 014 |
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To: SA Traders 169 Tshwane Drive Pretoria VAT registration number 4960225750 |
Payment method Cheque/debit card Cash Credit card Account |
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Code |
Description |
Qty |
Total price |
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TC20 |
Office table and chair
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1
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6 900,00 |
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6 000,00
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Invoice total |
6 900,00 |
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Amount tendered |
6 900,00 |
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Change |
0,00 |
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E & OE |
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Which account will be debited and which account will be credited in the accounting records of Africa Traders when recording the above source document?
Debit the Bank account with R6 900, and credit the Sales account with R6 000 and the VAT output account with R900.
Debit the Bank account with R6 900, and credit the Sales account with R6 900.
Debit the Sales account with R6 900, and credit the Bank account with R6 900.
Debit the Sales account with R6 000 and the VAT output account with R900, and credit the Bank account with R6 900.
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