Control work 2 A company (VAT payer) sells tables. The company uses the perpetual inventory system FIFO method. Beginning merchandise inventory is 200 tables for 100 each. During September, 2022, the company completed the following transactions: No. Date Transactions 1. 01 Prepaid 3 month insurance 210 . 2. 02 3. 03 Sold 180 tables for 200 each + VAT-7560 on account. Purchased 100 tables for 110 each + VAT-2310 on account. Purchased 50 tables for 90 for each + VAT-945 and paid cash Sold 120 tables for 200 each + VAT-5040 on account. 4. 06 14 6. 15 7. 15 8. 19 Received cash from customer who purchased inventory on 2 September Purchased 80 tables for 120 for each + VAT-2016 on account. Paid supplier for goods purchased on 3 September 9. 22 Purchased weighing-machine for 1200 + VAT-252 on account. The asset was placed in service on purchased day. Expected useful life is 5 year. The residual value of this asset is 0 (zero) 10. 28 Paid rent expenses 130 + VAT-27.30 . 11. 29 12. 30 13. 30 Borrowed 15000 from bank with interest rate 7% per year. Received an electricity bill, 310 + VAT 65.10 Paid cash for utilities of 140 + VAT-29.40 Requirement: Enter transactions into the journals. Closed VAT accounts. Determine the depreciation expense on the weighing-machine using the straight-line method for 2022. The residual value of this asset is 0 (zero). The asset was placed in service on the purchased day. v