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Alabaster Ltd has a functional currency of A$. On 15 June 2023, Alabaster Ltd purchases goods on credit terms from a New Zealand supplier for

Alabaster Ltd has a functional currency of A$. On 15 June 2023, Alabaster Ltd purchases goods on credit terms from a New Zealand supplier for NZ$200 000. Alabaster Ltd pays the invoice in full on 20 July 2023. Exchange rates are: 15 June 2023 NZ$1.00 = A$1.05 30 June 2023 NZ$1.00 = A$0.93 20 July 2023 NZ$1.00 = A$0.98 What is the journal entry to record the purchase transaction on 15 June 2023?

a.DR Inventories $210 000

CR Accounts Payable $210 000

b.DR Inventories $190 476

CR Accounts Payable $190 476

c.DR Inventories $200 000

CR Accounts Payable $200 000

d.DR Accounts Receivable $210 000

CR Sales $210 000

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