Salaries expense $25,000 per month Warehouse rent expense $2,420 per month incl. GST Telecommunication expense $748 per month incl. GST Allowance for doubtful debts 10% of the Accounts Receivable Provision for warranty 5% of the sales revenue Interest expense on loan (Building Head Office) Calculated at 8% per annum Delivery Van Purchased on 1 July 2019 at $88,000 incl. GST, with a useful life of 5 years, and $8,000 residual value. It is depreciated using the straight-line method. Store Building Purchased on 1 July 2016, at $770,000 incl. GST with a useful life of 20 years, and $100,000 residual value. It is depreciated using the straight-line method. Fire insurance On 1st July 2020, you paid $39,600 incl. GST for a twelve-month fire insurance policy to Berkshire Group