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6 . A U . S . company executed a series of transactions in a foreign country during 2 0 2 2 . The appropriate

6. A U.S. company executed a series of transactions in a foreign country during 2022. The appropriate exchange rates during 2022 were as follows:
Exchange
Date Rate
June 1,2022 $.80=1
August 1,2022 $.83=1
December 31,2022 $.86=1
The following transactions occurred during 2022:
June 1 Bought inventory of 60,000 on credit.
Aug. 1 Sold all inventory for 78,000 on credit.
Required:
Prepare all journal entries in U.S. dollars along with any December 31,2022 adjusting entries.

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