An Australian firm Murdoch Ltd acquired goods on credit from Massey Ltd, a New Zealand firm on 5 March 2019.The contract was denominated in New Zealand dollars.The goods acquired amounted to NZ$100 000.Murdoch Ltd settled the contract on 31 March 2019.

Relevant exchange rates were as follows:

5 March 2019 A$1.00 = NZ$ 1.2946

31 March 2019 A$1.00 = NZ$ 1.2101

Required

Provide the journal entries required in the accounts of Murdoch Ltd to record the above in accordance with AASB121