QUESTION 3 Total 15 marks Perth Ltd provides long service leave for its retail staff. Long service leave entitlement is determined as 13 weeks of paid leave for 10 years of continued service. The following information is obtained from Perth Ltd's payroll records and actuarial reports for its retail staff at 30 June 2020. on Unit credit No of % expected to Annual salary No of years The yield (years) employees become entitled per employee until vesting government bond 1 60 20 $27 000 9 10% 2 50 30 $27 000 8 9% 3 30 50 $27 000 7 9% 4 10 60 $27 000 6 9% Additional information The estimated annual increase in retail wages is 1% p.a. for the next 10 years, reflecting expected inflation The provision for long service leave for retail staff at 30 June 2019 was $23,000. No employees were eligible to take long service leave during the year ended 30 June 2020. Requirement Prepare the journal entry to account for Perth Ltd's provision for long service leave at 30 June 2020. Show all workings. (15 marks)