CALCULATOR PRINTER VERSION 4 BACK NEXT Exercise 12-2 During December of the current year, Teletex Systems, Inc., a company based in Seattle, Washington, entered into the following transactions: Sold seven office computers to a company located in Colombia for 8,229,000 pesos. On this date, the spot rate was 390 pesos per U.S. dollar. 12 Purchased computer chips from a company domiciled in Talwan. The contract was denominated in 420,000 Talwan dollars. The direct exchange spot rate on this date was $0.0428. Dec. 10 (a) Your answer is correct. Prepare journal entries to record the transactions above on the books of Teletex Systems, Inc. The company uses a periodic Inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Tities and Explanation Debit Credit 21100 DOC 0 Accounts Receivable Sales 21100 Dec 12 Purchases 17976 Accounts Payable 17976 SHOW LIST OF ACCOUNTS LINK TO TEXT Your answer is partially correct. Try again. Prepare journal entries necessary to adjust the accounts as of December 31. Assume that on December 31 the direct exchange rates were as follows: (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No entry" for the account tities and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,125.) Colombia peso Taiwan dollar $0.00242 $0.0388 Date Account Titles and Explanation Debit Credit Dec. 311 Transaction LOSS 1186 1186 Accounts Receivable (To adjust accounts receivable) Accounts Payable 1680 x Cash 1680 (To adjust accounts payable) epare journal entries to record settlement of both open accounts on January 10. Assume that the direct ates on the settlement dates were as follows: (Credit account tles are automatically Indented wh. mount is entered. Do not Indent manually. If no entry is required, select "No entry for the ac denter o for the amounts. Round answers to 0 decimal places, e.g. 5,125.) olombia peso aiwan dollar $0.00293 $0.0431 Date Account Titles and Explanation Debit Credit w an. 10 Cash 24111 Transaction Gain 4197 Accounts Receivable 19914 (To adjust accounts receivable) Accounts Payable 16296 Transaction Loss 1806 Cash 18102 (To adjust accounts payable) SHOW LIST OF ACCOUNTS (d) Prepare journal entries to record the December 10 transaction, adjust the accounts on December 31, and record settlement of the account on January 10, assuming that the transaction was denominated in dollars rather than pesos. Assume the same exchange rates as those given. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit