An inexperienced bookkeeper at Aster Inc. made the following entries. In each case, the explanation to the entry is correct. 3.1) Cash 35.000 Sales revenue 35.000 To record a gift of cash from the local government to encourage business by reducing the cost of land necessary to set up a factory 3.2) Interest expense 7,600 Cash 7,600 To record the interest paid during the factory construction during the year. 3.3) Goodwill 2500 Inventory 2,500 To encourage customer goodwill, the company offered a free sample of products to new customers 3.4) Land 100,000 Buildings 700.000 Cash 800,000 Acquired land and a building from a bankrupt company, Daisy Company for a lumpsum price of $800,000. At the time, Daisy had the following book and appraisal value for these assets: Book value Appraisal value Land $100,000 $300,000 Building $1.000.000 700.000 $1,100,000 1,000,000 So the lower of the two values were recorded in the entry above. Aster expects the building to last another 25 years; however, it expects to replace the roof in 5 years. Given the unique design and materials of this roof, it is assessed to be worth 20% of the value of the building purchase. Instructions: Prepare the entries that should have been made. Use the number, rather than date to identify your entries. STATES) O