ABC Ltd is an Australian company with a functional currency of A$. The company entered into a number of transactions denominated in US$ during the year ended 30 June 2023. If the closing exchange rate is A$1.00 = US$0.64, determine the translated amount that will be in-cluded in the financial statements for the following transaction. A loan payable of US$680 000 was arranged on 1 January 2023 when the exchange rate is A$1.00 = US$0.68. On 30 June 2023, the outstanding interest on the loan was US$ 20,000. Required Prepare the journal entries to record this transaction in accordance with AASB 121 for the year ended 30 June 2023 (Ensure that your answers are rounded correctly up or down to the nearest dollar.)