Question (a), (b) below are independent (not related) (a) Loft Company purchased a delivery truck on July 1, 2017. The total cash payment was RM27,900, including the following items. RM Negotiated purchase price 24,000 Installation of special shelving 1,100 Painting and lettering 900 Motor vehicle license 100 Annual insurance policy 500 Sales tax 1,300 Total paid RM27,900 The company's accounting period ends on December 31. The company applies the straight-line method in the calculation of depreciation for vehicle. The delivery truck puchased on July 1 has a useful life of 10 years and a salvage value of RM2,000. Prepare journal entries on July 1 and December 31, 2017 to record purchase and use of the delivery truck above (b) Celli Company obtains RM40,000 in cash by signing a 7%, 6-month. RM40,000 note payable to First Bank on July 1 2017. The company's -accounting period ends on September 30 2017. Show how the note payable should be reported in the financial statement. Show the journal entries on 1st July and 30th September, 2017