a Prepare in general journal format the payment of an annual expense, receipt of annual revenue and purchase of a non-current asset. The business uses standing journals for processing annual expenses and revenue. The following three transactions occurred on 31 March 2022.

– Insurance tax invoice was paid $7392 ($6720 + $672 GST).

– Office service agreements received were processed as equipment maintenance revenue and totalled

$77 352 ($70 320 + $7032 GST).

– A new oscilloscope probe used in the repair and maintenance of office equipment in the workshop and at customers’ premises was purchased for cash. It was included as equipment for non-current asset purposes, $18 854 ($17 140 + $1714 GST). The annual depreciation rate is 15% straight line.

b Prepare standing journals at the end of April for insurance, equipment maintenance revenue and depreciation of the new equipment, rounded to the nearest dollar.