QUESTION 1 (30 Marks) ABC Ltd carries on business as a manufacturer of stationery from its main branch in the Republic. The following is the receipts and payments for the two month period JUNE and JULY 2023. All amounts include VAT where appropriate. The following information is provided:

The following information is provided:

RECEIPTS

	RECEIPTS	JUNE	JULY
1	Cash sales made by the Republic branch to South Africa	185 900	246 750
2	Interest received	25 100	65 200
3	Rental received (letting of residential accommodation)	120 000
4	Insurance payment received on an insurance claim for trading stock stolen in the Republic		55 600
5	Vending machine bought in 2020 for R12 500 to be used at canteen (input tax denied) is sold on 10 JULY 2023		15 000
	Payment
	Wages and salaries	72 000	72 000
	Property rates on business property	9 275	9 275
	Bank Charges	15 260	8 125
	Diesel	7 898	9 564
	Raw materials purchased from vendors	123 500	254 652
	Purchase of single cab bakkie to be used in delivery	675 000
	Finance charges on the new bakkie	16 250
	Bad debts	4 500	3 650
	Maintenance	9 758	8 759
	Telephone	3 650	4 650
	Water and Electricity	6 575	7 525

Calculate the VAT payable by or refundable to ABC Ltd in respect of its two-month tax period ended July 2023. (Show detailed workings of how you would deal with each item.) NB: round off your calculations to the nearest Rand. IF NO VAT APPLICABLE, PLEASE STATE REASONS.