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Marmite Lid obtains a $3,050,000 loan which is repayable over the next five years. The bank has agreed to accept the following repayments. The repayments are varied to match to periods when Marmite Lid expect to have surplus future cash flows which can be used to reduce their debt. The repayment schedule is as follows. Marmite Lid is aware that interest is usually paid up front and has proposed the following split in the agreed repayments for the preparation of the financial statements. Interest Capital Total repayment End of Year 1 E 82,100 E 39,900 E 122,000 End of Year 2 E244,000 161,900 405,900 End of Year 3 E244,000 E 366,000 E 610,000 End of Year 4 E204,100 61,015,900 61,220,000 End of Year 5 E161,900 E1,466,300 E1,628,200 You are informed that the effective interest rate is 7.07%. Required: b. Calculate the interest charge that is applicable in each of the five years (under IFRS). (Rounding (to the nearest $5) in this table in the interest calculation. Negative values should be indicated with a minus sign.) c. Prepare journals to post the transactions to the financial liability account (the loan account) for the five-year period. d. Prepare the ledger account for the loan for the five-year period