Bomarks acquires an equipment from a foreign supplier on credit for $$6$ million on $31$ March $2022,$ when the exchange rate was $$1=$ GH$5.$ The entity incurred other direct costs of GH$1\mathrm{.}5$ million in installing the equipment. The estimated useful life of the equipment is $10$ years and the entity has obligation to restore the location to its original state after usage. The estimated cost of dismantling and restoration in $10$ years is GH$3\mathrm{.}5$ million and the entity$$s cost of capital is $8\%.$

Although the equipment was available for use from $1$ May $2022,$ the entity did not bring it into use until $1$ July, $2022.$

Bomarks also sold goods to a foreign customer for $$3\mathrm{.}5$ million on $30$ April $2022,$ when the exchange rate was $$1=$ GH$5\mathrm{.}75.$ The customer paid $$1$ million on $1$ July when the rates were $$1=$ GH$5\mathrm{.}60.$ On that date, Bomarks paid half of the amount owed for the equipment. At the entity$$s year$-$end of $31$ December $2022,$ the closing exchange rate was $$1=$ GH$5\mathrm{.}9.$ The entity$$s functional currency is the cedi.

Required: Explain, with relevant calculations how the above transactions should be accounted for. Show extracts in the financial statements at $31$ December $2022.$