Question 2 On 1 July 2014 Esso Lid enters into an arrangement with a US bank - Citu to borrow US$900 000. The term of the loan is 3 years with interest payable annually in arrears on 30 June at the rate of 10 per cent. The exchange rate information is: 1 July 2014 AS1 = US$0.45 30 June 2015 A$1 = US$0 55 What journal entries are required in Esso Lid's books for 1 July 2014 and 30 June 2015 in accordance with AASB 121 (rounded to the nearest whole A$)? Hint: 3 Journal Entries (7 Marks)