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$($iii$)$ The machine that costs $$104,000$ was acquired on $1$ January $2023.$ This cost

includes $$2,500$ maintenance costs for the year ending $31$ December $2023.$

However, the cost of $$500$ to transport the machine from the supplier's

warehouse to the company's premises at the time of purchase was treated as

expense and included in the "Other expenses Account".

$($iv$)$ No depreciation has been charged for the year ended $31$ December $2023.$

The company depreciates the machine using the straight$-$line method.

The machine is expected to have a residual value of $$7,500$ at the end of

its useful life of $5$ years.

The company depreciates motor vehicles using the double$-$declining

method with an assumed useful life of $4$ years and residual value at $10\%$

of the cost.

$($v$)$ In the month of December, the company issued from the inventory, parts costing

$$1,500$ to replace defective goods covered under warranty.

$($vi$)$ The bank loan carries an annual interest of $5\%,$ payable twice a year on every

$30$ June and $31$ December. As the company has yet to receive the bank

statement, the Cash account shown in the unadjusted trial balance has not taken

this into account.

$($vii$)$ Included in the sales was $$3,000$ deposit received from a customer in November

for goods to be delivered in January $2024.$

$($viii$)$ Power Pte Ltd estimated that $4\%$ of accounts receivable owing on $31$ December

$2023$ will be uncollectible.

Required:

Analyse the above and present the necessary entries for Power Pte Ltd for the year ending $31$

December $2023.$

Show all workings.

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