Exercise 16-14 Journalize the following foreign-currency transactions for Kingsway Import Inc.: eu mu 2017 Purchased goods was 500,000 yen, and the exchange rate of the yen was $0.0117. Paid the Japanese supplier when the exchange rate was $0.0120. Sold merchandise on account to a French company at a price of 80,000 euros. The exchange rate was $1.57. Adjusted for the decrease in the value of the euro, which had an exchange rate of $1.54. Kingsway Import Inc.'s year end is December 31 on account from a Japanese company. The price Nov. 17 Dec. 16 19 Acc R Sajes Reve 31 Fore ign curenay o/auy 2018 Jan. 14 Collected from the French company. The exchange rate was $1.58. Catle