24) On November 1, 2019, Black Company purchased inventory from a company in France. Payment will be made in 500,000 Euros and will be paid on February 1, 2020. Direct Exchange rates: November 1, 2019 $1.06 December 31, 2019 $1.09 February 1, 2020 $1.08 Black has a December 31st year end. Prepare the necessary journal entries for this import transaction