Question 1 (10 points) Develop the following practical case, applying the General Business Accounting Plan: Make accounting entries at the three-digit level: Case 1 01/02 Merchandise is purchased for 50,000 soles plus VAT, the merchandise is entered and paid in cash.

1. Calculate the VAT (value-added tax).
- Assuming the VAT rate is 18%, we find:
50,000 \times 0.18 = 9,000
2. Record the total cash payment including VAT:
50,000 + 9,000 = 59,000
3. Make the accounting entries:
- Debit Inventory account for the value of merchandise:
\text{Inventory (601):} \quad 50,000
- Debit VAT account for the tax amount:
\text{VAT (I.G.V., 40):} \quad 9,000
- Credit Cash account for the total payment:
\text{Cash (110):} \quad 59,000

Answer:

\begin{align*}\text{Merchandise entry:} & \\\text{Inventory (601)} & \quad 50,000 \\\text{VAT (I.G.V., 40)} & \quad 9,000 \\\text{Cash (110)} & \quad 59,000 \\\end{align*}