James Wann is the owner of Scottish Salon Suppliers. On 9 April 2013 he sold 8 Volume Conditioners and 3 Mega M50 Hairdryers to Julia Morgan who runs her own hairdressing salon

Apply VAT where appropriate at 20% throughout the paper.1. James Wann is the owner of Scottish Salon Suppliers. On 9 April 2013 hesold 8 Volume Conditioners and 3 Mega M50 Hairdryers to Julia Morgan whoruns her own hairdressing salon.SCOTTISH SALON SUPPLIERSPRICE LIST FOR 2013Shampoo ConditionerMoisturising 300 ml £4·00 Shine 500 ml £5·00Volumising 300 ml £5·50 Repair 500 ml £6·00Colour Protect 300 ml £6·00 Volume 500 ml £8·75Brushes HairdryersCeramic Brush £8·00 Turbo 220 £32·00Vent Brush £4·00 Mega M50 £40·00Curling Brush £6·00 UltraPro £25·00TERMS:Trade Discount – 10%Cash Discount – 5% one monthVAT – 20%DELIVERY:£10.00 on orders under £250FREE on orders of £250 or more(a) Using the information from the Price List above, complete the Invoice tobe sent to Julia Morgan (on the Worksheet provided).(b) State 2 reasons why James would keep a copy of the invoice sent to JuliaMorgan on 9 April 2013.(c) Identify 2 accounting documents, other than an Invoice, which Jamescould use in credit transactions. Explain their use.(d) James plans to expand his business. Identify 2 sources of finance that couldfund this without James having to share control of the business. Suggestone advantage and one disadvantage of each source. Advantages anddisadvantages of each source of finance must be different.

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