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The following transactions for King Maponga Traders transpired during the month of July 2021 Date Details of transactions 1 3 6 King Maponga, the owner, contributed a delivery vehicle valued at R65 200 to the business. Journal voucher JV 012 was issued King Maponga, the owner, took trading inventory with a cost price of R1000 for personal use. Journal voucher JV 013 was issued Charged an amount of R 1800 to Mr Settler, a debtor, as interest on his overdue account. Journal voucher JV 014 was issued. Settlement discount of R650 was granted to C. Zama, a debtor, for early settlement of his account. Journal voucher JV 015 was issued The bookkeeper erroneously recorded the purchases of a motor vehicle in the office equipment account. The motor vehicle was purchased for R67 000 cash. Journal voucher JV 016 was issued 12 20 26 Mr Dodger, a debtor, was declared insolvent. As a result, he was not able to pay the amount owed of R16 000. The bookkeeper decided to treat the amount as being irrecoverable. Journal voucher JV 017 was issued Record the transactions (per the table above) in the general journal of King Maponga Traders for the month of July 2021. Ignore VAT. (24 Marks)​

Sagot :

anthougo

Recording Journal Entries of transactions for the month of July 2021 in the books of King Maponga Traders are as follows:

Journal Entries:

July 1 Debit Delivery Vehicle R65,200

Credit Common Stock R65,200

To record the issuance of Journal voucher JV 012.

July 3 Debit Drawings, King Maponga R1,000

Credit Inventory R1,000

To record the issuance of Journal voucher JV 013.

July 6 Debit Interest Receivable (Mr. Settler) R1,800

Credit Interest Revenue R1,800

To record the issuance of Journal voucher JV 014.

July 12 Debit Discounts Allowed R650

Credit Accounts Receivable (C. Zama) R650

To record the issuance of Journal voucher JV 015.

July 20 Debit Motor Vehicle R67,000

Credit Office Equipment R67,000

To record the issuance of Journal voucher JV 016.

July 26 Debit Bad Debts Expense R16,000

Credit Accounts Receivable (Mr. Dodger) R16,000

To record the issuance of Journal voucher JV 017

Data Analysis:

July 1 Delivery Vehicle R65,200 Common Stock R65,200

July 3 Drawings, King Maponga R1,000 Inventory R1,000

July 6 Interest Receivable (Mr. Settler) R1,800 Interest Revenue R1,800

July 12 Discounts Allowed R650 Accounts Receivable (C. Zama) R650

July 20 Motor Vehicle R67,000 Office Equipment R67,000

July 26 Bad Debts Expense R16,000 Accounts Receivable (Mr. Dodger) R16,000

Read more about recording journal entries at https://brainly.com/question/17201601

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