11 On 1 July 2014 Double Island Ltd enters into an agreement to borrow 2 milion trom Point pictuPoirt pic and the boy to Double Island Ltd's Australian bank account. The loan is for four years and requires the payment of interest at the rate of pur conton 30 June each year. Double Island Ltd's reporting date is 30 June. The relevant exchange rates are 1 July 2014 A$1.00 = UK20:48 30 June 2015 A$1.00 = UK0.50 REQUIRED Provide the necessary journal entries that would be made in the books of Double Island Ltd to account for the above transaction for the year ending 30 June 2015 LD 33.5