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1. On June 1, a calendar year U.S. manufacturer sells, on 60-day credit, goods to Oman importer for US$ 2,800,000. The Rial/ Dollar exchange rate

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1. On June 1, a calendar year U.S. manufacturer sells, on 60-day credit, goods to Oman importer for US$ 2,800,000. The Rial/ Dollar exchange rate is OMR 1 = $ 3.2 on June 1, OMR 1 - $ 3.5 on June 30, and OMR 1 = S 3 on August 1. Required: Prepare dated journal entries in Oman Rials to record the incurrence and settlement of this foreign currency transaction assuming It employs a two-transaction perspective

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