Question 2 Total 15 marks Part A (9 marks) AMP Ltd is an investment company that trades in shares on the Australian Securities Exchange. AMP Ltd values its equity instruments (shares) at fair value through the profit and loss account using trade date accounting. Settlement date is three days, meaning that settlement of trades occurs three business days after trade date. During the year ended 30 June 2020, AMP Ltd made the following share trades in Qantas Airways Ltd (QAN), a well-known public listed company that is also the flag-carrier airline of Australia: Trade date Price/share $11 10/1/20 20/1/20 7/5/20 Quantity 70,000 33,000 35,000 Action Buy Buy Sell Brokerage fees $500 $500 $300 $12 $15 The closing market price of QAN shares on 30 June 2020 was $14.20. Requirement: Prepare the journal entries necessary for AMP Ltd to record the above trades in QAN's shares for the year ended 30 June 2020. Show all workings and narrations. (9 marks)