Problem 3 (20 marks) Bunny's Mining Plus had the following account balances as at 30 June 2018 (2018 financial year end). Machinery Accumulated Depreciation - Machinery Vehicles Accumulated Depreciation Vehicles $ 102 000 66 000 40 000 14 800 Additional information as at 30 June 2018 1. "Machinery" account consists of one machine (Machine 1), which was purchased on 1 October 2015 with a recorded value $102 000. At the purchase date, the estimated useful life of Machine 1 was 4 years, with a residual value of $6 000. 2. "Vehicles" account consists of one vehicle. 3. The company uses straight-line depreciation for machinery, and uses the diminishing-balance depreciation method for vehicles at an annual depreciation rate of 30%. 4. Ignore GST. The following transactions took place from 1 July 2018 onwards. 2018 1 September Purchased a new machine, Machine 2, for a cash price $80 000, with associated installation costs of $2 000 also paid in cash. 15 November Paid vehicle repairs of $800 in cash. 31 December Trade in the vehicle for a new machine, Machine 3, for a trade-in value of $22 000 and a further cash payment of $3000. 2019 1 March Replaced the motor of Machine 1 at a cost of $9 500 (payment made in cash). After the replacement of the motor, Machine 1's useful life was re-estimated to be 3 years, with a revised residual value of $1 000. The old motor was written off at a carry amount of $400. Required (a) Record the above transactions in the general journal. Provide narration. (20 marks)