Question 4 (a) Prepare the Journal Entries to record the following transactions for Nelson Plc at the end of the financial year 31st March 2019 (0) General expenses of 28,500 included costs of 7,500 for installing a computer and 500 for freight charges for transporting the computer. (ii) Provide for an accrual of 2,500 for salaries outstanding for the month of March 2019. Goods worth 8,500, which had been purchased for cash, had been entered in the ledger accounts as sales sold for cash. (iv) The credit controller of Nelson Plc has decided to write off as a bad debt an amount of 12,000 which has been owing to the company for two years. (v) A motor vehicle has been purchased from Allen Motors Co. for 23,500. (vi) 7.5% interest is owing on a loan of 24,000 (vii) Rent has been received on a shop for the half year 1st January 2019 to 30th June 2019. The amount received was 12,000 and the payment has already been included in the accounts. (vii) A cheque payment for 7,700 to a creditor was entered onto the accounts, but incorrectly stated for 7,070. (12 marks) (b) Explain the purpose of recording transactions through Journal entries. (4 marks) (Total 16 marks)