The following balances were extracted from the subsidiary journals of General Spaza Shop as at 28 February 20.2. R Cash receipts journal VAT input 1 207,50 Sales column 153 300,00 Cash payments journal Purchases column 221 900,00 VAT output 1 680,00 Purchases journal Trade payables column 152 950,00 Sales journal Trade receivables column 291 812,50 Purchases returns journal Trade payables column 17 307,50 Sales returns journal Trade receivables column 12 880,00 On 1 February 20.2, the VAT input account had an opening balance of R42 000 and the VAT output account had an opening balance of R63 000. The applicable VAT rate is 15%. Calculate the closing balance of the VAT output account as at 28 February 20.2. Instructions: 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Round off to the second decimal after the full stop (eg: 50.56) 3. For embedded questions spelling is very important. If you spell the answer incorrect it will be marked incorrect. Please make sure that your spelling of the words is correct. 4. Keep the ledger entries strictly according to the information given. GENERAL SPAZA SHOP GENERAL LEDGER