Q6.2 3 Points On 1 November 2020. Lily Ltd wrote 100,000 exchange traded call options in Sunflower Ltd at a premium of $3.00 per option. The options have an exercise price of $20.00 and mature on 20 July 2021. Sunflower Ltd share price is $18.00 on 20 July 2021. The options have a fair value to the holder of $2.00 each on 30 June 2021 and nil each on 20 July 2021. Required: List the journal entries that Lily Ltd has to make in relation to the call options on 1 November 2020, 30 June 2021, and 20 July 2021 Select file(s) Please select files) Q6.3 3 Points On 1 July 2020, Ted Ltd and Fred Ltd enter into a three-year loan contract that allows Ted Ltd to borrow $200,000 from Fred Ltd with an annual interest payment of $20,000 (paid in arrears). The credit rating of Ted Ltd is AA. Similar entities with the same AA credit rating can borrow at 9%. On 30 June 2021, Ted Ltd's credit rating increases to AAA. Similar entities with the same AAA credit rating can borrow at 7% Both Ted Ltd and Fred Ltd use amortised cost for the subsequent measurement of the loan. Required: Please explain whether and how the change of credit rating of Ted Ltd would influence the financial statements of Fred Ltd. Enter your answer here