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Find what transaction be entered into as book of first entry

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Reference no: EM132953515

Problem 1: A South started a general dealer business as SA Dealers. The business is registered as a VAT vendor and uses the periodic inventory system. VAT is calculated at 15%. A direct deposit to the amount of R4 150 was received on 2 March 2021 from Africa Properties for the monthly subletting of a portion of the premises. This transaction will be entered in the .... as book of first entry.

A. Cash payments journal

B. Fees journal

C. General journal

D. Cash receipts journal

Reference no: EM132953515

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