Part A (5 marks) On 1 July 2019 Scooby Ltd entered into a contractual arrangement with Dooby Ltd, a New Zealand-based heavy equipment manufacturer, to manufacture a purpose-built machine for Scooby Ltd. The contracted price for the machine was NZ$ 745,000. Construction of the machine was expected to take nine (9) months and would be shipped FOB Auckland on that date (31 March 2020). On 30 June 2020, (Scooby Ltd's reporting date) Dooby Ltd was paid for the machinery. The relevant exchange rates were as follows: 1 July 2019 AUS 1.00 NZ$ 1.15 31 March 2020 AU$ 1.00 = NZ$ 1.02 30 June 2020 Required AU$ 1.00 NZ$ 1.07 i. Provide the relevant journal entries for Scooby Ltd for the year ending 30 June 2020. (3 Marks) ii. How does the accounting treatment for qualifying assets different from the accounting treatment for non- qualifying assets? (2 Marks) Part B (4 marks) a) What is the difference between 'hedged item' and 'hedged instrument"? Provide an example for the differentiation. (2 Marks) b) Distinguish between primary financial instruments and secondary financial instruments. (2 Marks)