The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Furniture Promotional Material Supplies Capital $14,329 $17,198 $31,774 $8,113 Additional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value ($) Insurance paid for (months) $29,270 Rent paid for (months) $21,488 Furniture useful life (years) $546 ? Furniture scrap value ($) Closing stock of promotional materials 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. 3,040 92043MO 785 Transactions: Date Description 1-Jun Paid General Insurance 4-Jun Auction commission - Account 4-Jun Payment to Account Payable Amount $2,544 Date Description 3-Jun Rent of Business Premises Amount $4,038 $908 4-Jun Motor Vehicle Expenses $382 $1,093 6-Jun Rental commission - Cash $1,529 6-Jun Rental commission - Account $1,249 7-Jun Advertising placement fees - Account $872 8-Jun Receive Payment from Account Customers $1,278 8-Jun Rental commission - Cash $1,692 9-Jun Rental commission - Account $1,402 11-Jun Advertising Expense - Cash $731 12-Jun Payment to Account Payable $906 12-Jun Advertising placement fees - Cash $930 14-Jun Receive Payment from Account Customers $1,032 15-Jun Staff Wages $2,395 15-Jun Advertising placement fees - Cash $922 16-Jun Auction commission - Cash $1,873 17-Jun Cash Withdrawals by Owner $960 18-Jun Auction commission - Account $1,052 20-Jun Advertising placement fees - Account $1,114 22-Jun Auction commission - Cash $1,871 25-Jun Advertising Expense - Account $1,146 21-Jun Purchase promotional materials 24-Jun Additional cash contributed by owner 27-Jun Sundry Expenses $625 $3,771 $294 29-Jun Staff Wages $2,395 Comments: -Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely rental commission, auction commission and advertisement placement fees. All revenues relate to the month of June. - Transactions involve cash unless specified as "Account". -Record payments for rent and insurance in prepaid accounts initially. -Information relevant to complete adjusting entries can be found in the top right section of this page. -The periods to which the rent and insurance apply commence on 1 June. Round your calculations to the nearest dollar.