You are the owner of an accounting firm called "Credits". One of you clients, Ms Bing, has the following queries (see below). REQUIRED: On the following page, you are required write a formal business letter in your own words to Ms Bing, your client, to explain the following to her: 1. Ms Bing paid for the painting of her private home using the business bank account. She recorded this as a debit to the Repairs expense account and credited the Cash at Bank in the business accounts. She cannot understand why you have asked her to change this journal entry. In your letter, you need to explain to her why this entry is incorrect and what she needs to do in order to correct it. (4 marks) 2. The business recently bought a new computer in order to service their clients quicker. Ms Bing recorded the entire cost of the new computer to the computer expense account when it was bought. business for 4 years. Ms Smith believes that the computer will be useful to the (4 marks)