An American company Pete Inc. sold its inventory to Ping Pte. ltd for $20,000 Singapore dollars (SGD). and to satriaTbk. For 300,000,000 rupiah on December 1,2014 when the spot rate for SGD is $0.798 baht, when the spot rate for baht is $0.031. Pete closed its books on December 31,2014 and collected the total sale and settlement amount on January 15,2015. Spot rates are given as follows:

Dec 31,2014 Jan 15,2015

Singaporean Dollars $0.76 $0.802

Indonesian Rupiah $0.0000911 $0.0000805

Thai Baht $0.029 $0.0318

Required: prepare the required journal entries to account for the transaction above .