QUESTION 5 Optimistic Outlook' is a business registered for GST and lodges its Business Activity Statement (BAS) at the end of each quarter. For the month ending 30 September 2020, 'Optimistic Outlook' recorded the following transactions: Transactions $ Drawings by owners 15,246 Provided sales to customers on cash basis 83,050 Paid for various operating expenses (not including wages) 72,347 Paid for wages (gross) 55,000 PAYG Withheld 11,000 Purchased and paid for a new motor vehicle 47,894 Received cash from credit customers for services provided in 33,000 August 2020 Note: the above amounts include GST where appropriate Additional information: On 1 September 2020, GST Paid and GST Collected opening balances were $5,000 and $25,000 respectively. PAYG Withheld opening balance was $10,000. Required: Based on the above information, record the total GST Paid, GST Collected, PAYG Withheld, the Net GST Payable/Refundable, and clearly indicate if the Net GST amount is payable to the ATO or refundable to the business for the July - September 2020 quarter in the space provided. GST Paid ($) GST Collected ($) PAYG Withheld ($) Net Amount Payable/Refundable ($) Is the Net Amount Payable to the ATO or Refundable to the Business