Koala Ltd is an Australian company that receives management consulting services from Spin Incorporated. On 15 June 2023, Koala Ltd received an invoice from Spin Incorporated amounting to US\($4\) million for services provided over the period 1 January 2023 to 31 May 2023. On 15 July 2023, Koala Ltd paid the invoice. The functional currency of Koala Ltd is A$ and its financial year ends on 30 June. Applicable exchange rates are as follows.

Required 

Prepare the entries of Koala Ltd to record the effects of the management fee transaction in accordance with AASB 121/IAS 21.

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1 Jan. 2023 31 May 2023 Average 1 Jan. 2023 to 31 May 2023 15 Jun. 2023 30 Jun. 2023 15 Jul. 2023 A$1=US$0.70 A$1=US$0.64 A$1=US$0.65 A$1=US$0.62 A$1=US$0.60 A$1=US$0.58