Control work 2 A company (VAT payer) sells tables. The company uses the perpetual inventory system FIFO method. Beginning merchandise inventory is 200 tables for 100 € each. During September, 2022, the company completed the following transactions: No. Date Transactions 1. 01 Prepaid 3 month insurance 210 €. 2. 02 3. 03 Sold 180 tables for 200 € each + VAT-7560 € on account. Purchased 100 tables for 110 € each + VAT-2310 € on account. Purchased 50 tables for 90 € for each + VAT-945 € and paid cash Sold 120 tables for 200 € each + VAT-5040 € on account. 4. 06 14 6. 15 7. 15 8. 19 Received cash from customer who purchased inventory on 2 September Purchased 80 tables for 120 € for each + VAT-2016 € on account. Paid supplier for goods purchased on 3 September 9. 22 Purchased weighing-machine for 1200 € + VAT-252 € on account. The asset was placed in service on purchased day. Expected useful life is 5 year. The residual value of this asset is 0 (zero) 10. 28 Paid rent expenses 130 € + VAT-27.30 €. 11. 29 12. 30 13. 30 Borrowed 15000 € from bank with interest rate 7% per year. Received an electricity bill, 310 € + VAT 65.10 € Paid cash for utilities of 140 € + VAT-29.40 € Requirement: Enter transactions into the journals. Closed VAT accounts. Determine the depreciation expense on the weighing-machine using the straight-line method for 2022. The residual value of this asset is 0 (zero). The asset was placed in service on the purchased day.