Harris Inc. had the following transactions: a 1. On May 1, Harris purchased parts from a Japanese company for a U.S. dollar equivalent value of $8,400 to be paid on June 20. The exchange rates were May 1 June 20 1 yen 1 yen $0.0070 0.0075 2. On July 1, Harris sold products to a Brazilian customer for a U.S. dollar equivalent of $10,000, to be received on August 10. Brazil's local currency unit is the real. The exchange rates were July 1 August 10 1 real 1 real $0.20 0.22 Record entry Clear entry View general journal b. Assume that the two transactions are denominated in the applicable local currency units of the foreign entities. Prepare the entries required for the dates of the transactions and their settlement in the local currency units of the Japanese company lyen) and the Brazilian customer (real). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field View transaction list Journal entry worksheet Record the purchase of Japanese yen to settle the account payable at the June 20 spot rate. Note: Enter debits before credits. Date General Journal Debit June 20 Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 4 5 6 7 Record the revaluation of foreign currency payable to the U.S. dollar equivalent value. Note: Enter debits before credits. Date General Joumal Debit Credit August 10 Record entry Clear entry View general journal