QUESTION 2 (20 marks; 30 minutes) This question consist of two unreiated sections. SECTION A (14 marks; 21 minutes) REQUIRED Enter the transactions…

hi can you please do question 2 for me

QUESTION 2 (20 marks; 30 minutes) This question consist of two unreiated sections. SECTION A (14 marks; 21 minutes)REQUIRED Enter the transactions below in the general joumal of Atlas Traders forFebruary 2018. Note: Round all amounts to the nearest cent.Journal narrations are not required. INFORMATION Atlas Traders is a trading entity that uses the perpetual inventory system. The entitymaintains a constant gross profit percentage of 25% (on sales). The standard VAT rate of 14% is applicable. Atlas Traders uses control accounts for debtors andcreditors. Additional information 1. A debtor, Mr Barbosa, retumed goods which he originally purchased for R1 980. 2. A cheque of R13 280 was reiumed by the bank marked ‘RiD’. This cheque was previously received from a debtor, Mr Chan, in settlement of his account ofR13 500. 3. Charge R664 interest on the account of the debtor, Mr Chan.

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