The company enters into a long-term construction contract with a Japanese company. Under the terms of the contract, the Japanese firm will manufacture an engine diagnosis machine which can be used on all classic cars. The contract is entered into on April 30, 2021, for a fixed price of 5 million. The equipment is delivered on May 31, 2022, subject to a two-month credit period after the date of delivery to ensure that the company is satisfied with the equipment.Payment falls due on July 31, 2022. The following exchange rates are applicable.

April 30, 2021160 = AUS$1.00

June 30, 2021160 = AUS$1.00

May 31, 2022240 = AUS$1.00

June 30, 2022245 = AUS$1.00

July 31, 2022260 = AUS$1.00

Record the journal entries of:

year 2021:

1/ the accounts payable on the date contract signed

year 2022:

2/ the exchange difference impact on accounts payable on the date of the asset ceasing to be a qualifying asset

3/ the exchange difference on the date of the asset ceasing to be a qualifying asset

4/ the unrealised foreign currency adjustment at year-end

5/ record the payment of the liability

6/ the foreign currency adjustment on finalisation of the contract