Question 3: (14 marks) 3.1 On 30 June 2019, Aarfy Ltd entered into a 5 year finance lease for the right to use equipment. The fair value of the equipment at that inception of the lease is 51 200 000. Lease payments are made in advance on 30 June each year. An extract of the lease repayments schedule is as follows: AARFY LTD Reduction in ability Extract of Lease Payments Schedule Minimum lease Interest payments expense 30 June 2019 30 June 2019 $ 160 000 30 June 2020 1160 000 99 313 30 June 2021 160 000 92 144 Balance of liability $ 1 143 131 S 160 000 61 687 983 131 921 444 953 588 67 856 Required: Based on the lease repayment schedule, prepare the journal entries of the Aarty Ltd to account for the finance lease from 30 June 2019 to 30 June 2020 narrations are not required) (9 marks) 3.2 Curly Lid bought 100% of issued shares in Moe Ltd on July 2020 The following transactions occurred between Curly and Moe during the year ended 30 June 2021