Question 1 - 41 marks - suggested time 15 - 20 minutes Dash's Racing Supplies (DRS) Ltd. Is getting ready to provide its September 30,202 ? year end financial statements to the bank. The following transactions were mado during the year. 1) On October 1, 2021. DRS borrowed $10,000 from the Royal Bank. The bank 10 an is io be repaid in 4 equal annual installments of $2,500 per year plus interest. The installment for 2021/22 was made on Sept 30,2022 . Annual interest on the bank loan is 4% and is due at the end of the loan - September 30,2025. 2) On October 1, 2021, DRS paid $1,600 for the computer equipment necessary to run DRS. The computer equipment is expected to be used for 4 years. DRS uses straight line depreciation. 3) On April 1, 2022 DRS purchased racing equipment for $6,000. The racing equipment is expected to be used for 4 years. DRS uses straight line depreciation. 4) On July 1, 2022, DRS paid $1,800 for a one year insurance policy for the period of July 1, 2022, to June 30, 2023. 5) On August 28, 2022 purchased $1750. of supplies necessary to make racing rep The company records the supplies as items that have a future benefit. On September 30,2022 , supplies remaining are $550. 6) DRS received $1,000 from a customer for work to be started and completed in October 2022. Prepare good form ALL regular and adjusting journal entries for DRS. Show all regul journal entries first and then show your adjusting journal entries. If a journal entry is needed, note this and the reason why. Show all necessary calculations