QUESTION 3: Accounting Concepts (13 marks) As part of your continuing professional development as a graduate accountant at Bright Chartered Accountants, the Managing Partner (Paul Howard) has asked you to assist a new client, Anna Leigh, the owner oflubilee Hardware Stores in North Adelaide, to review the following three cases where she may have violated at least one of the accounting assumptions, denition or concepts of the accounting conceptual framework. Paul has asked you to prepare a formal business letter format for him. If he is happy with your explanation, this letter will then be used as the basis of a responses to Anna. In your letter, you are required to provide the following: a) Explain which accounting denition, assumption or concept has been violated, and; b) Describe what the correct treatment should be in each case. i. Anna has recorded a written-off and out-dated 'Plant and Machine' as an asset. ii. Anna has recorded the sale of a delivery truck as a cash sale revenue for the year. iii. Anna has not recorded the depreciation expense on delivery truck for the year to report a higher prot for the year. The remaining 3 marks will be awarded for following the formatting requirements below: 0 Date your letter 03 July 2022 0 Address your letter to Paul Howard (Managing Partner), Bright Chartered Accountants, 102 Payneham Road, Glynde, SA, 5070. 0 Any formal business letter format is acceptable. Please note that a template has not been provided. Students are expected to research business letter formats themselves. I Set out your letter with subheadings to separate each part of your letter 0 Use of an appropriate professional way to begin and end your letter. You must consider the context of the letter who are you writing it to, and how would you communicate with them? 0 The use of appropriate language, accounting terminology and reference in your letter to the specic information presented in the question. 0 No specic word count is prescribed. However, given the nature of the questions, it would be expected that the entire letter (including address and signoff) should require no more than one A4 page. (Letter to commence here)