Hawthorne Pty Ltd sold a building to Kew Ltd on 1 July 2019 for $3,500,000 cash and immediately leased it back for 10 years. Annual lease payments are $500,000 and the first payment is due on 30 June 2020. At that time, the fair value of the building was $3,200,000 and its carrying amount was $2,800,000. The interest rate implicit in the lease is 10%. The terms and conditions of the transaction are such that the transfer of the asset is a sale in accordance with the requirements in IFRS 15. Required: 1. Prepare the general journal entries in the books of Hawthorne Pty Ltd on 1 July 2019 in accordance with the provisions of IFRS 16 Leases. 2. Prepare the general journal entries in the books of Kew Ltd on 1 July 2019 in accordance with the provisions of IFRS 16 Leases