Prepare the journal entry for the following transaction.

A summary of the transactions entered into by the company in FY 2020 are as follows: Transaction During the year Platinum Pty Lad incurred $78097 of wages costs. The company has paid this amount in hul by the end of the year. In addition the company also paid all wages owing from During the year, the accountanta at Patinum Ply Ltd determine that apreciation should be recorded at $14.50. They estimate that 10% of the depreciation la rotated to selling activities with the remaining related to administration By the end of the year, Platinum Pty Ltd collects from its debtors a total of $33083 During the yearPatinum Pty Ltd also purchased $49000 of inventory in cash from its suppliers of higher value add material At the end of the year. Platinum Pty Lid declares and pays $34535 dividend to shareholders Platinum Pty Ltd has paid ait of a company income tax owing from the previoun period in addition, the company incur a further $286286 in corporate income tax that it will pay next year 7 During the you anum Pty Lad repay $30472 of a bank dubt. The remaining borrowings are to be read over the following ten years. On the borrowings of Platinum Pty Lid, during the year the bank charged Platnun PLM 513405 in interest. This amount was directly charged to the bank account of the company During the year Platinum Py Lid receives a great for innovation of $76466 By the end of the year, Patinum Phylld pays off $19003 of debts owing to trade creditors. During the year Platinum Ply Lid makes $1000 in sale on credit forms of 30 days. These are were carried in lewentory at a value of $200 11 During the year annum Illud purchased an accoon S000 of motor vehiden. Met the mount was paid in cash, win the remaining hunt on credit. The content determines that the be located liabilities 12 During the you. Platinum Ply Lid purchased A1000 of inventory from its suppliers of raw materials. The inventory was purchased on credit 13 During the vow Patrum Pyld makes a sale of 81000 of this amount, 60% was paid in cash in the remainder on credit terms of 60 days. The inventory for this sale was carried at a value of S11600 14 At the start of the year Platinum Ply Lid estended its lease on is promises for 12 months. Each month of rent costs $1000, and the company pays to rent on a monty bass by direct debit to bank account During the year Platinum Pty Ladies 23000 shares to a new investors. These shares are sued at an average price of 56 per share By the end of the you. Platinum Pty Ltd es up the remainder of its previous insurance contract that was prepaid in the previous year, Hallway into the year, the company wions a new contract for the next twelve months of insurance paying, $4800 upfront 10 16 16