Described below are several transactions and events for Chisholm Insurance Ltd for the year ended 30 June 2019.

1. The company issued a 1‐year insurance policy to Boronia Ltd on 1 March 2019, costing $8000, received in advance.

2. The company leased premises to Red Hill Ltd for a period of 3 years, beginning on 1 January 2019. Red Hill Ltd paid $35 000 on this date, and is required to pay further instalments of $35 000 in 2020 and 2021.

3. The company has been a generous sponsor of the Clean Up Australia Day campaign in past years. In recognition of its support, an anonymous donor sent the company a cheque for $20 000, with a letter stating, ‘Keep up the good work!’

4. On 30 January 2019, the company sold a non‐current asset to another organisation for $20 000.

The asset originally cost Chisholm Insurance Ltd $50 000 and had been depreciated to a carrying amount of $15 000.

Required 

For each transaction or event, determine the appropriate amount to be recognised as income in the current year. Ignore GST.