You are a junior Bookkeeper for Azure Beach Accountants and Financial Services $($ABAFS$).$ You have been reviewing the accounts of a client, Jakes Brick and Concrete Specialists, and have found what you believe is an error while preparing the Income Statement. The entry relates to the purchase of a piece of equipment for $$38,500($inclusive of GST$)$ that has been allocated to the Repairs and Maintenance account. This transaction occurred on $1$ March $20$x$3.$Prepare an email to your Manager that outlines how you would fix the error. You should also outline if there are any further impacts on the financial reports. Refer to ABAFS policies and procedures when preparing your correction recommendation.Table $5$ Email to ManagerTo:Your ManagerFrom:Student name Date: Subject:Accounting Error purchase of EquipmentJackes Brick and Concreting Specialists Detail: