128 Question 34 6 pts Kensington Gardens Pty Ltd purchased a 'Mini-Skid Steer Loader' (a very small tractor) whose ability is to fit in small spaces when doing earthmoving. The Mini-Skid Steer Loader (referred to as Loader) was purchased on 1 July 2017 at a historical cost of $35,000, a residual value of $5,000, and an estimated useful life of 12 years. The company adopts the straight-line method for depreciating the Loader. The Loader was insured at 31 December 2019 for $17,000 with Royal Insurance Ltd. On 31 December 2019, there was an industrial accident, and the Mini-Skid Steer Loader was totally damaged and could not be repaired and so it was decided to scrap the equipment. Required: 1. Calculate the depreciation of the Mini-Skid Steer Loader and create a depreciation schedule from the date of purchase to the date of scrapping the Loader on 31 December 2019. (3 marks) 2. Record the general journal entry to dispose of the property, plant, and equipment - Mini - Skid Steer Loader as at 31 December 2019. (3 marks) Narration is not required