Posted by: Pdfprep
Post Date: June 7, 2021
Refer to the Exhibit.
A business which is not VAT registered, purchased stationery items on credit costing £500 excluding VAT. The rate of VAT on the goods was 17.5%.
What are the correct ledger entries?
The answer is:
A . Option A
B . Option B
C . Option C
D . Option D
Answer: C
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