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1. Jone Pte Ltd, a company located in a country whose currency is ' JN ', was acquired by Maya Bhd on 1 January 2020.
1. Jone Pte Ltd, a company located in a country whose currency is ' JN ', was acquired by Maya Bhd on 1 January 2020. Jone Pte Ltd assembles computer terminals from materials supplied by Maya Bhd. Once assembled, the computer terminals are shipped to Malaysia where Maya Bhd sells them. 2. Milli Pte Ltd, a company whose currency is ' ML ', manufactures computers using materials supplied by local companies. Milli Pte Ltd sells the computers to local customers. Milli Pte Ltd was also acquired by Maya Bhd on the same date as Jone Pte Ltd. Maya Bhd has entered into a transaction with a foreign company, Hani Pte Ltd whose functional currency is 'HN'. Maya Bhd supplied an equipment to Hani Pte Ltd at a price of HN250,000 on 1 January 2021 and recognized revenue immediately as the equipment was transferred and installed as at that date. Hani Pte Ltd paid 75% of the amount on 1 July 2021 and agreed to pay the remainder by 30 June 2022 . The exchange rates were as follows: Discuss the accounting entries for the above foreign exchange transaction in the financial statements of Maya Bhd for the year ended 31 December 2021
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