Coyote Corporation $($a U$.$S$.$ company in Texas$)$ had the following transactions in Mexican pesos during $2024$:

March $1$ Bought inventory costing $60,000$ pesos on credit.

May $1$ Sold $60\%$ of the inventory for $54,000$ pesos on credit.

August $1$ Collected $48,000$ pesos from customers.

September $1$ Paid $36,000$ pesos to creditors.

The appropriate exchange rates during $2024$ were as follows:

Date Exchange Rate

March $1,2024$ $ $0\mathrm{.}20=1$ peso

May $1,2024$ $ $0\mathrm{.}22=1$ peso

August $1,2024$ $ $0\mathrm{.}23=1$ peso

September $1,2024$ $ $0\mathrm{.}24=1$ peso

December $31,2024$ $ $0\mathrm{.}25=1$ peso

Required:

Prepare all journal entries in U$.$S$.$ dollars along with any December $31,2024,$ adjusting entries. Coyote uses a perpetual inventory system.