Over a 5-year period, Amy Ltd completed the following transactions affecting non-current assets in its financial years ending 30 June. The company uses straight-line depreciation on all depreclable assets and records depreciation to the nearest month. 2016 Dec 30 Purchased new machinery for a cash price of $467 500. Installation charges of $8 195 and Freight and Insurance expenditure of $3 025 were paid in cash. All of the above amounts were GST Inclusive. The machinery was estimated to have useful life of 6 years and a residual value of $42 500 (excluding GST). 2017 Jun 30 Recorded depreciation expense on the machinery. 2018 Jun 30 Recorded depreciation expense on the machinery. 2019 Jun 30 Recorded depreciation expense on the machinery. Nov 30 Completely overhauled the machinery purchased on 30 December 2015, at a cost of $82 500 including GST after which the useful life was estimated to be 5 remaining years, and the residual value was revised to $25 000 (excluding GST). 2020 Jun 30 Recorded depreciation expense on the machine. 2021 Jun 30 Recorded depreciation expense on the machine Required: Prepare joumal entries to record all the transactions of Amy Ltd. (Entries may be rounded to the mearest whole dollar, narrations are required.) (19 marks) Data Question 4 continued Part 2 (6 marks) Differentiate normative accounting theory from positive accounting theory. Provide an example of each) (6 marks)