On comparing the cash journals of SA Traders for the month ending 31 January 2020 with the bank statement for the same period, it was noted that an amount of R520 for interest received appears on the banks statement but has not been recorded in the subsidiary journals.The correct entry in the accounting records of SA Traders should be the following:Select one:a.An entry of R520 in the cash payments journal of SA Traders for 31 January 2020.b.An entry of R520 in the credit column of the bank reconciliation statement of SA Traders as at 31 January 2020.c.An entry of R520 in the cash receipts journal of SA Traders for 31 January 2020.d.An entry for R520 in the debit column of the bank reconciliation statement of SA Traders as at 31 January 2020.

On comparing the cash journals of SA Traders for the month ended 31 January 2022 with the bank statement for the same period, it was noted that cheque no 102 dated 26 January 2022 and issued to SA Stationers for the amount of R282 for stationery purchased was recorded incorrectly in the cash payments journal as R228. To correct this, you need to … in the accounting records of SA Traders.Select one:a.Enter R54 in the cash payments journal.b.Enter R282 in the cash payments journal.c.Enter R54 in the cash receipts journal.d.Enter R282 in the cash receipts journal.

The following information was obtained from the accounting records of SA Attorneys:On 1 April 2022, A South, a client of the practice, paid in an amount of R100 000. The money was to be kept in trust to the benefit of A South to be used by him to purchase a business.What will be the journal entry in the accounting records of SA Attorneys to account for the transaction? Select one:a.General journalDateAccountsDebitRCreditR1 AprilTrust bank account100 000     A South /Trust creditor control 100 000b.Trust journalDateAccountsDebitRCreditR1 AprilTrust bank account100 000    A South /Trust creditor control 100 000c.Business cash receipts journalDateDetailsTrust creditors controlRBankR1 AprilA South (Client – Deposit)100 000100 000d.Trust cash receipts journalDateDetailsTrust creditors controlRBankR1 AprilA South (Client – Deposit)100 000

The following balances were extracted from the accounting records of SA Traders at 31 December 2023.  REquipment  405 000Bank (Cr)100 000Long term loan220 000Trade payables control85 000Inventory15 000Trade receivables control79 000 The equity amount of SA Traders at 31 December 2023 is as follows?Select one:a.R64 000b.R294 000c.R94 000d.R194 000

An entity received R500 cash for the sale of goods. The entity applies the periodic inventory system and posted the following journal entry in the general journal:Debit: Sales    R500Credit: Bank      R500 This error will be detected in the trial balance, because the total debits and the total credits will NOT be equal.

On 31 July 2021, SA Attorneys earned interest of R3 160 for the month from Africa Bank on the trust bank account.The interest received on the trust bank account must be dealt with in accordance with the requirements of section …. of the Legal Practice Act, 28 of 2014.Select one:a.84(1)b.86(3)c.86(2)d.86(4)