PQ 8.8 Translation of sales of inventory on credit terms You are the financial controller of Clare Valley Limited an Australian company listed on the ASX that sells premium Australian wines into overseas markets. Clare Valley's sales of inventory in foreign currency during the year ended 30 June 2017 are set out below. Exchange rates at delivery date, shipment date, the end of the reporting period and payment date are expressed to ASI . Customer Foreign currency Invoice amount Contract basis Delivery date Shipment date Cash receipt date Delivery date Shipment date Israel #3 Israeli Shekel (NIS) 1 500 ooo FOB Shipping 30 Aug 2016 31 Jul 2016 31 oct2016 NIS 1.5 NIS 1.4 End of the reporting NIS 1.1 period Cash receipt date NIS 1.3 Required Dubai #6 Dubai Dirham AED) 10 ooo ooo FOB Shipping 31 Oct 2016 30 sep 2016 S Feb 2017 AED 3.5 AED 4 AED 3.8 AED 4.2 Turkey Turkish Lire 10 ooo ooo ooo FOB Destination 31 Jan2017 30 Nov 2016 31 Mar2017 TL 9 OOO TL 10 750 TL 10 Egypt Egyptian Dinar 250 ooo ooo FOB Destination 31 Mar 2017 28 Feb 2017 31 Jul 2017 ED OOO EDS EDS 750 ED 6 OOO United States #9 US Dollar (USS) 1 ooo ooo FOB Shipping 30 Apr 2017 Apr 2017 31 Aug 2017 USSO_65 USSO_70 USSO_7S USSO_76 to the sale In accordance with AASB 121, prepare the necessary entries in relation transactions up until and including 3 1 August 2017.