PROBLEM 2.17Recognising expensesCalculate the total expenses for the month of June 2019, given the following transactions.1Paid salaries of $60 000; $50 000 related to work carried out in May 2019 and $10 000 related to June 2019.2A phone bill for $1200 was received for the usage on June. This amount will be paid on 1 July 2019.3A $65 000 deposit was paid for a block of land.4Paid rent for the month of June of $6000 on 1 June 2019.5A commission expense of $8000 was paid in June. The commission related to April sales.