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23 2023 In your own words explain how these documents are used in the accounting system. Include in your answer the VAT information required on each of the documents. Q.3.2 What is the difference between a trade discount and a settlement discount, and (4) how will these two discounts be accounted for? Q.3.3 Use the relevant transactions from those given above to complete 3.3 .1 and 3.3.2 for Topaz Traders for the month of May 2022. Q.3.3.1 Creditors Journal (10) Q.3.3.2 Creditors allowances Journal (5) Q.3.4 In which journal will the transaction on the 20th of May be recorded? (1) Q.3.5 In which journal will the settlement discount received be recorded? (1) 23 2023 In your own words explain how these documents are used in the accounting system. Include in your answer the VAT information required on each of the documents. Q.3.2 What is the difference between a trade discount and a settlement discount, and (4) how will these two discounts be accounted for? Q.3.3 Use the relevant transactions from those given above to complete 3.3 .1 and 3.3.2 for Topaz Traders for the month of May 2022. Q.3.3.1 Creditors Journal (10) Q.3.3.2 Creditors allowances Journal (5) Q.3.4 In which journal will the transaction on the 20th of May be recorded? (1) Q.3.5 In which journal will the settlement discount received be recorded? (1)

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