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

Record the purchase of Japanese yen at the $0.0078 spot rate to settle the account for December 31, 20X7.