QUESTION 3 ( This question is worth 5% points) New Broker Company (NBC) trades mixed goods and services in both wholesale and retail NBC is a registered VAT as a seller. The first month of NBC's bulk sales transactions are given below in an invoice form: 1 Durian fruits from local farm: 20 tons at 300 Baht per kilo 2 Lived chickens: 5,000 at 10 Baht per unit 3 Farm management training 4 Vaccines for livestockS 6,000,000 50,000 35,000 15,000 Subtota 6.100,000 VAT7% Total (a) Was VAT due in the above invoice? Ifyes, what is the correct amount? Ifno, what is the correct invoice? (b) IfVAT was incorrectly collected, what should NBC do if it already remitted the VAT to the government? In the following month, NBC had an increase in its sales mix. The invoice for goods and services are provided below. 1 Office equipment sold to Ministry of Education 2 Freght cost for trucking containers from Bangkok to Choburi 3 Refrigerators: 100 units x 8,500 Baht per unit 4 Flat screen TV 5 Bulk fertilizer to farmer 30 tons at 35 baht per kilo 6 Printing papers for office use 7 Office furniture: 1,500,000 3,500 15.000 25,000 200 Tables at 1,200 Baht per unit 800 Chairs at 250 baht per unit 8 Management training for online stores 50,000 10 Textbooks sold to university liabrary 550,000 Subtotal VAT 7% Total (a) How much VAT should NBC collect? (b) Using this month's VAT as the basis for future estimates of VAT, if BNC's taxable sales increase 10% each month, what is the estimated VAT per month for the next three months