Please journalise the transactions. Narration required

1 September You purchased 20 items of SKU112820, 10 SKU112821, 15 SKU112822, and 12 SKU112823 from Focus Bikes. You received all the stocks ordered and paid 20% of the purchase price together with the freight of $253 incl. GST. You agreed to pay Focus Bikes the balance on 5th October. 1 September You paid $11,440 incl. GST for a three-month product liability insurance policy to Society Insurance. You received $46,750 incl. GST cash in advance from clients for a one-year subscription to your company featured magazine, RideOn". 1 September 1 September 2 September 2 September You received $76,560 incl. GST in advance from Gocycle for repair of bicycles. You spent $1,496 incl. GST on miscellaneous office supplies at Officeworks. You paid for these from your bank account. Consider purchase of supplies as a prepaid supplies account. You spent $102,850 incl. GST on a welding machinery and paid for it by using your bank account. You estimate that the machinery will have a useful life of 5 years, during which you are planning to produce 40,000 units of new bike pedals. The residual value of the machinery is $13,500. Actual number of units of pedals that will be produced within the next twelve months will be 2,400 units. Record the purchased of machinery on this date. Note that the trial Company in Xero does not allow you to add an asset to the register or create asset types as we did in Demo Company in Week 6 so you'll need to just record this transaction as an asset purchase