2 (10 marks) Worlies Ltd leased a delivery van from ANZ Ltd. The delivery van will be painted with Woolies Ltd's logo and advertising, and the cost of repainting the delivery van to make it suitable for another owner 4 years later is estimated to be 580,000. Woolies, Ltd plans to keep the delivery van after the lease but has not made any commitment to ANZ Ltd to purchase it. The terms of the lease are as follows: Date of lease agreement is 1 July 2021. Duration of lease is 4 years. Life of the leased delivery van is 5 years after which it will have no residual value. Lease payments is $200,000 at the end of each year. Interest rate implicit in the lease: 10 percent. Unguaranteed residual value is $100,000. Fair value of the delivery van at the inception of the lease is $702,280. 1. Provide the journal entries to account for the lease transaction in the books of Waglies Ltd at 1 July 2021 and 30 June 2022. (5 marks) Date Accounts Debit (5) Credit (S) 2. Provide the journal entries to account for the lease transaction in the books of ANZ Ltd at 1 July 2021 and 30 June 2022 (5 marks) Canterbay nagi