Chocolate De-lites imports and exports chocolate delicacies. Some transactions are denominated in U.S. dollars and others in foreign currencies. A summary of accounts receivable and accounts payable on December 31, 20X6, before adjustments for the effects of changes in exchange rates during 20X6, follows:

Accounts receivable:
In U.S. dollars		$	164,000
In 475,000 Egyptian pounds (E)		$	73,600
Accounts payable:
In U.S. dollars		$	86,000
In 21,000,000 yen ()		$	175,300

The spot rates on December 31, 20X6, were

E1 = $0.176

1 = $0.0081

The average exchange rates during the collection and payment period in 20X7 are

E1 = $0.18

1 = $0.0078

Required:

a.	Prepare the adjusting entries on December 31, 20X6. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.	Prepare the collection of the accounts receivable in 20X7. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

c.	Prepare the payment of the accounts payable in 20X7. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

d.	What was the foreign currency gain or loss on the accounts receivable transaction denominated in E for the year ended December 31, 20X6? For the year ended December 31, 20X7? Overall for this transaction?

e.	What was the foreign currency gain or loss on the accounts payable transaction denominated in ? For the year ended December 31, 20X6? For the year ended December 31, 20X7? Overall for this transaction?

f.	What was the combined foreign currency gain or loss for both transactions?