Part A (2 marks). Silver Brain Ltd purchased a new car for $95500, which paid $40000 in cash and $55500 by loan. The manager further paid annual registration costs of $1000 and an additional $1200 to a signwriter to paint the company's name on the car. On 30 June, the first car service was done and the manager further paid $500 cash based on the purchase agreement. Required: 1. Calculate the cost of the new car. (1 mark) 2. Prepare the journal entry to record the transaction relating to the $500 car service. (1 mark)