You are to complete the following:

Using the Attached company details provided in the question

Record the opening balances.

Record December transactions

Prepare and produce the following reports

a. Aged Accounts Receivable

b. Aged Accounts Payable

c. Profit and Loss Statement (31 December 2019)

d. Balance Sheet (31 December 2019)

Dec-22 Received a cash deposit from a customer, A Paine, for $6,400 plus GST. electrical work to be completed during January 2020. Dec-23 Purchased inventory on credit from Simple Solar Supplies. $15,400; terms 1/14, n/30 (incl. GST). Dec-26 Received and paid telephone bill for month of December $495 incl. GST. Dec-28 Sold inventory to High Secondary School on account. $15,600 plus GST; terms n/30. Dec-31 Cash sales from electrical services for 15 December to $19,750 plus GST. December 31 Dec-31 Received bank interest $350 Additional information: 1. Interest expense of $335 has accrued in December on the loans payable. 2. A physical count of solar supplies on 31 December shows $9,640 of unused supplies on hand. 3. Depreciation on the solar installation equipment is estimated to be $18,000 per year. 4. Depreciation on the van is estimated to be $6,600 per year. 5. The balance in the prepaid rent account covers a period of six months. 6. 10% of the prepaid public liability insurance expired during December 2019. 7. Ending inventory is estimated to be $29,750. B. Salaries for the last week of December are unpaid and amount to $2,300. You do not need to account for PAYG for this assignment 9. A fuel bill for December for $1,100 (excluding GST) has not been recorded or paid (to be entered as a reversing journal).December transactions: Date Transaction Amount Dec-01 Purchased inventory from Pipe Solutions Lid on credit. $13,200 including GST; terms n/30 Dec-01 Purchased 24 month insurance cover from PC Insurance for $6,050 inclusive of GST motor vehicle. direct payment Dec-03 Received a payment from University to pay outstanding October account Dec-04 Paid Pipe Solutions for outstanding September and October accounts. Dec-04 Purchased inventory from Pipe Solutions on credit. $24,000 plus GST; terms n/60. Dec-05 Paid $5,000 to Simple Solar Lid on account, and issued a 90- day 5% bill payable for the balance of the September account. GST inclusive. Dec-08 Purchased electrical supplies on credit from Simple Solar $1,078 including GST. Supplies, due 15 January Dec-08 Paid salaries to employees for work up to 8th of December. $4,500 Ignore PAYG. Dec-10 Sold inventory on account to High Secondary School. $27,000 plus GST; terms 2/10, n/30. Dec-11 Received cash for the issue of additional share capital. $20,000 Dec-15 Sold inventory to North Ridge Shopping Centre on account. $14,200 plus GST; terms 2/10, n/30. Dec-15 Paid salaries to employees for work up to 22nd of December. $9,200.00 Ignore PAYG. Dec-16 Record cash sales for electrical services from 1 December to $31,500 plus GST. 15 December. Dec-17 North Ridge Shopping Centre paid outstanding September and October accounts. Dec-19 Electricity bill received. $480 plus GST. Dec-20 Purchased inventory from Simple Solar Supplies. $17,600 incl. GST; terms n/60 Dec-22 Paid ATO to cover GST owing from previous month.Aged Receivables As at 30 November 2019 Beattie Solar Services Limited Current October September August Total Receivables North Ridge Shopping Centre $27,200.00 $4,115.00 $1,480.00 $0.00 $32,795.00 University $11,645.00 $635.00 50.00 $0.00 $12,280.00 High Secondary School $8,875.00 $3,330.00 $4,560.00 $0.00 $16,765.00 Total Receivables $47,720.00 $8,080.00 $6,040.00 $0.00 $61,840.00 Aged Payables As at 30 November 2019 Beattie Solar Services Limited Current October September August Total Payables Simple Solar Supplies $12,000.00 $0.00 $9,000.00 $0.00 $21,000.00 Pipe Solutions Ltd $19,500.00 $14,200.00 $13,800.00 $0.00 $47,500.00 Total Payables $31,500.00 $14,200.00 $22,800.00 $0.00 $68,500.00Claire Beattie has seen a growth in her business in recent months and, based on the advice of her Accountant, has created a small proprietary company in order to run her electrical services operations. Claire has branched into buying and selling wholesale cleaning products (inventory). Claire accounts for this inventory on a periodic basis and all purchases are recorded in a "purchases" account. Claire still provides electrical services to regular clients on a cash only basis. All sales on credit are for the sale of inventory. The Balance Sheet for Claire Electrical Services Ltd (RESL) as at 30 November 2019 is shown below: Page BreakBeattle Solar Services Limited Balance sheet as at 30 November 2019 Account Dr Cr Cash at bank 122.860 Accounts receiv able 61,540 GST receiv able 9.260 Prepaid rent Prepaid insurance 12.DD0 Inventory Solar supplies 23.500 Solar instalation equipment 132,400 Accumulated depreciation - solar instalation equipment 18.600 Motor vehicle - van 72.0DO Accumulated depreciation - van 8.000 Accounts payable - 58.5DO Wages payable 3,060 Unearned fees 9.0DO Loan payable - due 30 November 2020 45,000 GST payable - 12.600 Loan payable - due 4 years 15,4DO Share capital 15.200 Retained earnings - 125,500 Fees revenue Gas expense Fuelexpense Rent expense Salaries expense Phone and internet expense Totals 460 ,860 460,560