Hanigan Ltd is an Australian company that purchases inventory (PPE) from Hodgman AG, which is a German company. The most recent acquisition involved the acquisition of inventories for 300,000 pounds with contract terms including FOB shipping point Credit dates are; Date Event Exchange 1/5/20 Inventory ordered $A- 0.55p 11/5/20 Inv. shipped $A- 0.58p 30/6/20 End of reporting $A- 0.6p 31/7/20 Payment $A- 0.64p Required: Prepare the journal entries for Mikkakos Ltd to record this transaction