4 Marko Company sold spray paint equipment to Spain for 5,600,000 pesetas (P) on October 1, with payment due in six months. The exchange rates were 25 1 peseta 1 peseta 1 peseta October 1, 20X6 = $0.0048 points 0.0075 0.0073 December 31, 20X6 = April 1, 20X7 eBook Required: a. Did the dollar strengthen or weaken relative to the peseta during the period from October 1 to December 31? Did it strengthen or weaken between January 1 and April 1 of the next year? Print References October 1 to December 31 Dollar weakened Dollar strengthened January 1 and April 1 Journal entry worksheet 2 3 4 Record the sale of the equipment with the receivable denominated in Spanish pesetas. Note: Enter debits before credits. Date General Journal Debit Credit Oct. 1, 20X6 Accounts receivable (P) 34,000 Sales revenue 34,000 Record entry Clear entry View general journal Journal entry worksheet 4 Record the revaluation of the foreign currency receivable to the current U.S. dollar equivalent. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31, 20X6 Record entry Clear entry View general journal 3. Journal entry worksheet 2 Record the collection of the foreign receivable. Note: Enter debits before credits. Date General Journal Debit Credit Apr. 1, 20X7 Record entry Clear entry View general journal 4