This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
You're on a roll — 3.1 Cash Receipts Journal for October 2025 | Day | Doc No. | Details | Fol. | Bank (Dr) | Sales (Cr) | Cost of Sales (Dr) | Sundry Accounts (Cr) | Sundry Accounts (Cr) | |-----|---------|-------------------------|------|-----------|------------|--------------------|----------------------|----------------------| | | | | | | | | Amount | Details | | 01 | 001 | B. Bold (Capital) | | R 300 000 | | | R 300 000 | Capital | | 02 | | Cash Sales | | R 6 700 | R 6 700 | R 3 350 | | | | 05 | 002 | L. Lekalakala (Rent) | | R 1 200 | | | R 1 200 | Rent Income | | 08 | | Cash Sales | | R 8 600 | R 8 600 | R 4 300 | | | | 27 | | Cash Sales | | R 4 400 | R 4 400 | R 2 200 | | | Calculations for Cost of Sales (Mark-up is 100% on Cost, so Cost = Sales / 2): Day 02: R 6\,700 / 2 = R 3\,350 Day 08: R 8\,600 / 2 = R 4\,300 Day 27: R 4\,400 / 2 = R 2\,200 What's next? 📸