BackTime left $0$:$22$:$16$Question $13$Not yet answeredMarked out of $15\mathrm{.}00$ Flag questionQuestion textTree Trimmers is a small business entity specialising in trimming and removing trees. The business is NOT a registered VAT vendor.At the beginning of the rainy season, the South African weather services indicated a high probability of several severe storms and regular flooding in the Durban area. On $1$ October $2023,$ Tree Trimmers decided to buy new cordless chain saws for the amount of R$14000($VAT Inclusive$)$ in anticipation of the probable increased workload. The purchase was financed through a loan obtained from KZN Bank. The loan is repayable in equal bi$-$annual instalments, over $6$ years and bears interest at $10\%$ per annum. All interest payable is capitalised to the loan account. The contract stipulates that the first instalment is due on $1$ June $2024.$It was decided to depreciate the chain saws over its anticipated economic life of $6$ years using the straight$-$line method. The financial year of Tree Trimmers ends on $29$ February $2024.$ Required:Record the following in the general journal of Tree Trimmers:a$)$ Purchase transaction of the vehicle on $1$ October $2023$b$)$ Depreciation on the trailer for the year ending $29$ February $2024$c$)$ Interest on the loan from ABC Bank for the year ending $29$ February $2024$ Instructions:Instructions for numeric responses:$1.$ Use a full stop to indicate any decimals $($eg: $1000\mathrm{.}01)2.$ Round off to the second decimal after the full stop $($eg: $50\mathrm{.}56)3.$ Do not type in R for Rand in the numeric block Tree TrimmersGeneral journal $31$ October $2023$DayDetailsDebitCredit RR$1$AnswerAnswer Answer Answer Chain saws purchased on credit Tree TrimmersGeneral journal $29$ February $2024$DayDetailsDebitCredit RR$29$AnswerAnswer Answer Answer Depreciation on chain saws for the period ending $29$ February $2024$ AnswerAnswer AnswerInterest due on loan Answer