a. what is the Adjusting entries on December 31, 2019

b. what was the foreign currency gain or loss on the accounts receivable transaction denominated in SFr for the year of 2020?

c. what was the foreign currency gain or loss on the accounts payable transaction denominated in Yen for the year of 2020?

d. Record the collection of the accounts receivable and the payment of the accounts payable in 2020.

Purple Inc. imports goods from many countries. A summary of Purple's accounts receivable and accounts payable on December 31, 2019 shows the following before adjustments for the effects of changes in exchange rates during 2019: $100,000 $50,000 Accounts receivable: In U.S. dollars In 60,000 Swiss francs (SFr) Accounts payable: In U.S. dollars In 10,000,000 yen () $86,000 $97,000 The spot rates on December 31, 2019, were: 1 SFr = $0.85 1 Yen = $0.0095 The average exchange rates during the collection and payment period in 2020 are: 1 SFr = $0.90 1 Yen = $0.0098 adjusting entries on December 31, 2019