Harris Incorporated had the following transactions: On May 1, Harris purchased parts from a Japanese company for a U.S. dollarequivalent value of $8,400 to be paid on June 20. The exchange rates were

May 1 1 yen = $0.0070

June 20 1 yen = 0.0075

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. Brazils local currency unit is the real. The exchange rates were

July 1 1 real = $0.20

August 10 1 real = 0.22

Assume that the two transactions are denominated in the applicable LCUs of the foreign entities. Prepare the entries required for the dates of the transactions and their settlement in the LCUs of the Japanese company (yen) and the Brazilian customer (real).

there are 7 journal entries