QUESTION 3 (32 marks) Bunty's Garments is a local store that sells designer and branded clothing. Bunty's Gar- ments is also a registered VAT vendor. Balances in Bunty's Garments accounting records at 1 June 2022 are as follows: Accounts receivable: R 26 910 SARS (VAT): R 3 900 (credit balance) The following transactions occurred during the month of June 2022 regarding Bunty's Garments (all transactions are inclusive of VAT): Date 4 7 13 17 23 27 Transaction Sold clothing on credit to Blakes Brands for R4 485. Goods sold for cash totalling R2 415. Able Apparel, a debtor owing R15 180 disappeared and was not traceable. The management of Bunty's Garments decided to write the amount owing off as irrecoverable. Sold goods to Kimz Klothing on credit, totalled R9 200 gross of any dis- counts. Kim is a regular customer of Bunty's Garments and is allowed a 10% discount for early settlement (within 30 days). Management at Bunty's Garments thinks that Kimz Klothing will take advantage of the settlement discount as they have always done so in the past. Blake Brands returned some of the clothing they bought on the 4th. The to- tal amount of the items returned was R1 265 and a credit note was issued. Zola Fashion, a debtor of Bunty's Garments owing a balance of R8 050, paid his account in full. A new customer, Mimi Attire purchased goods on credit for R2 645 (gross of discounts). Bunty's Garments also offered an early settlement discount of 10% to Mimi Attire however given that Mimi Attire is managed by a teen- age entrepreneur, the management of Bunty's Garments does not expect Mimi Attire to take advantage of the discount. VAT of 15% is applicable. Ignore cost of sales and inventory for all relevant transactions.