Current and prior period intragroup borrowings  LO2, 7 Tony Ltd owns all the share capital of Sean Ltd. The following transactions are independent.

(a) Sean Ltd gives $50 000 as an interest-free loan to Tony Ltd on 1 July 2018. Tony Ltd made a $20 000 repayment by 30 June 2019.

(b) Sean Ltd borrows $50 000 from Tony Ltd on 1 July 2018 with an interest rate of 6% p.a. The interest is to be paid annually in arrears, starting on 30 June 2019.

(c) Sean Ltd borrows $50 000 from Tony Ltd on 31 December 2018 with an interest rate of 6% p.a. The interest is to be paid annually in advance, starting on 31 December 2018.

(d) Sean Ltd borrows $50 000 from Tony Ltd on 31 December 2018 with an interest rate of 6% p.a. The interest is to be paid biannually in arrears, starting on 30 June 2019.

(e) Sean Ltd borrows $50 000 from Tony Ltd on 1 July 2018 with an interest rate of 6% p.a. The interest is to be paid biannually in advance, starting on 1 July 2018. Required In relation to the above intragroup transactions: 1. prepare adjusting journal entries for the consolidation worksheet at 30 June 2019 and 30 June 2020 2. explain in detail why you made each adjusting journal entry.