On January 13, 2018 Astra Ltd is preparing to close its financial statements for the year 2017. At that dateis has calculated the following accruals for 2017:Electricity for December 2017 $2,000Water for December $650Audit fees for the year 2017 $5,500On March 13 2018, it has paid the above expenses in full, however audit fees actually paid were $5,000 since the auditors decided to give a discount to the company.Required:Prepare the journal entries for 2017 and 2018 taking into account the above