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on the 1st july 2022 Hexit Ltd borrows $3million from Hastie Corp (USA). The loan is sent by Hastie Corp to Hexit Ltds Australian bank

on the 1st july 2022 Hexit Ltd borrows $3million from Hastie Corp (USA). The loan is sent by Hastie Corp to Hexit Ltds Australian bank account. The loan is a five year loan which carries interest at 10% payable on the 30th of June each year. Hexie Ltd has a 30th June financial year end. The exchange rate are as follows: Aus $1 = US$ 0.68 on July 1, 2022 and Aus $1 = US$ 0.66 on 30th June 2023. Provide the journal entries on the books of Hexit Ltd to account for the above transactions for the year ending 30th June 2023

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