Relevant information to questions 1 and 2: Accounting for assets Melrose Ltd began constructing a Galaxy machine on 1 April 2020. The machine was completed on 30 June 2021. The total cost of construction for Melrose Ltd was $360 000 comprising the following costs: Wages to build the machine $165 000 Raw materials consumed in building the machine $120 000 Depreciation of manufacturing equipment attributed to the construction of the Galaxy machine $75 000 The wages are to be paid at a future date. Melrose Ltd borrowed $200 000 at a rate of 6% to finance the construction of the Galaxy machine. The funds were received on 1 March 2021 and the funds including interest were repaid on 31 August 2021. The financial year end of Melrose Ltd is 30 June. REQUIRED Provide the journal entries to account for the transactions and events related to the loan from 1 March 2021 to 31 August 2021. A B I III c? US XX 3 2 - I 1 X Date Description SDr SCH