After conducting an audit of the accounts ofParramatta Ltd, you discover that the following transactions and events were recorded during the current year. Parramatta Ltd uses the historical cost system. I. The company borrowed $600 001'] from a bank at an interest rate of 10% to construct a new warehouse. At the completion of construction, the loan was repaid and the following entry was made: Bank Loan 600 000 \"rehouse 60 000 Cash at Bank 560 000 2. A patent with a cost of $160 000 was being amortised over its useful life of 3 years. The amortisation entry made at the end of the current year was: Retained Earnings 20 [It] Patents 0 20 000 3. A speed-control device was installed on each of the companyh 3' delivery trucks at a cost of each plus GST. The transaction was recorded as follows: Maintenance Expense 2 40 GS T Receivable [1 Cash at Bank 240 2' 540 4. At the beginning of the current year; a new vehicle was purchased for $36 000. The vehicle had an estimated useful life of 4 years. Depreciation expense for the year was recorded as follows in order to avoid reporting a loss: Depreciation Expense 2 0t] Accumulated Depreciation He- 0 2 ill} hicle 5. Inventory was acquired at $30 per unit throughout the current year until the last purchase was made in the last month of the year. At that time the company was able to negotiate a special deal and acquired It] [100 units at $25 per unit. Ignore GST. The purchase was recorded as follows: Inventory 30!? 00 Cash at Bank 0 250 00 Income t] 50000 Required For each item, determine which accounting conceptfs) (ifany) is violated, and explain why. For each violation, indicate the correct treatment