You are the owner of an accounting firm called "We are Debits". One of you clients, Ms Smith, has the following queries [see below]. REQUIRED: On the following page, you are required write a formal businessletlaarin yourawn wardsta Ms Smith, yourclient,_to explain the following to her: 1. Ms Smith paid for the painting of her private home using the business bank account. She recorded this as a debit to the Repairs expense account and credited the Cash at Bank in the business accounts. She cannot understand why you have asked her to change this journal entry. In your letter, you need to explain to her why this entry is incorrect and what she needs to do in orderto correct it. [4 marks] The business recently bought a new computer in order to service their clients quicker. Ms Smith recorded the entire cost of the new computer to the computer expense account when it was bought. Ms Smith believes that the computer will be useful to the business for4years. (4 marks] The remaining 2 markswill be awarded for following the formatting requirements below. Date your letter 23 August 2021. Address your letter to Ms Smith, The Proprietor, Services Galore, 1 Smiley Road, M EH: 6669. Your address for the purpose ofthe letter is PO Box 999 Panama city FL 32413. A formal business letter format is required [though the re are different ways of doing this and there will be some flexibility in marking]. Your letter must however use an appropriate business like way to begin and end your letter, and you should set out your letterwith subheadings to separate each part ofyour letter as you address the criteria required. Included below are some suggested references that may help you in formatting your letter. You may use other Internet references ifyou wish