Administrative expenses 300
Credit; Cash 417
2 Debit; Accounts receivable 70200
Credit; Revenue from main business 60,000
Taxes payable - VAT payable (output tax) 10200
Debit: Cost of main business: 500x Unit cost
Credit: Inventory goods
3 Debit: Other business income 700
Taxes payable - VAT payable (input tax reversal) 119
Credit: Bank deposits 819
4 Debit: Cost of production - Product A 3000
- Product B 2500
Manufacturing expenses 1000
Administrative expenses 500
Credit: Cash or bank deposit 7000