Motion Ltd issued $5 million in redeemable preference shares in a private placement on 1 July 2012. The shares are redeemable on 30 June 2016, have no voting rights and offer a fixed rate of return to the holder. The shares are redeemed as expected with a fresh issue of shares. What are the accounting entries and note disclosures to record the transactions on 1 July 2012and 30 June 2016