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Angoplasticos Receivable is one of Welwitchia Entity's selected premium customers and therefore qualifies for a settlement discount of 5% on normal selling price if they pay their debt within a period of 7 days from the date of the invoice. Angoplasticos receivable has a history of utilizing the settlement discount. On 10 July 2017 Welwitchia Entity delivered goods with a normal invoice selling price of R114 400 to the premises of Angoplasticos Receivable relating to goods ordered on 8 July 2017. Due to an oversight by the new accountant who started working at Angosplasticos on 15 July 2017, the account with Welwitchia Entity was settled on 20 July 2017
Required:
Question 1: Journalise all the outstanding transactions (matter1) above in the records of Welwitchia Entity for the reporting period ended 31 July 2017.
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