QUESTION 1. Financial Betis Ash Naylor is the owner of a business. The following wa A BUSINESS-TRIAL BALANCE AS AT 30 JUNE 2019 c hsen pre 5 000 36 000 43 000 1 500 350 116 000 23 200 40 000 2000 32 250 175 150 12 800 207 800 Cash Accounts Receivable Inventory (1 July 2016) Prepaid Rent Supplies Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Accounts Payable Capital (1 July 2018) Drawings Sales Sales Returns & Allowances Discount Allowed Purchases Discount Received Supplies Expense Freight Inwards Freight Outwards Wages Expense Local Government Rates Expense Insurance Expense Advertising Expense Rent Expense 2 250 400 140 200 900 800 2 150 1 180 24 000 820 3 500 3 750 6 600 $441 300 $441 300 (continued.....) The following additional information is also provided $280 of the recorded sales represent cash paid by customers in advance to the business for goods which will not be delivered until August 2019 It is estimated that 3% of the 30 June 2019 balance of Accounts Receivable wie never be collected from the customers Both the Building and Equipment are expected to be used evenly over the bes. The expected total useful lives and residual values of both assets is as follows: Estimated Usefu Estimated Residual Equipment 5 years $5 000 Building 20 years The firm's insurance costs $200 per month. The last insurance payment made was for 6 months commencing 1 May 2019. Wages owing but not paid yet and not recorded yet at 3016 were 5670 The rent was paid on 28 June 2019 and was rent for the three months ending 30 September 2019. Upon receipt of the business's bank statement, the owner realised that the business had earned $90 interest on 30 June 2019. This amount was placed directly into the bank account so the cash has been received by the business but the amount has not yet been recorded by the business. Inventory was counted at 30 June 2019 and showed that $46 250 was still on hand. (9) $1 800 for advertising was paid on the 1st of April 2019. The advertising was for a commercial on the radio every month for 9 months starting in April 2019. (10) Total supplies used during the year ending 30 June 2019 was $940. (You need to focus on the total amount that has been used - do the table and the answer is easier to get). REQUIRED: Prepare appropriate journal entries to account for the information above. (20 mar