Harris ine had the following transactions: 1. On May 1. Harris purchased parts from a Japanese company for a U.S. dollar equivalent value of $7,400 to be paid on June 20 . The exchange rates were 2. On July 1. Hanis sold products to a Brazilian customer for a U.S. dollar equivalent of $11,800, to be received on August fo. Brazil's local currency unit is the real. The exchange rates were Required: a. Assume that the two transactions are denominated in U.S. dollars. Prepare the entries required for the dates of the transactions and their settlement in U.S. dollars. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) Journal entry worksheet Record the foreign purchase denominated in U.S. Dollars. Note: Enter debits before credits. Record the settlement of the payables. Record the foreign sale dominated in U.S. dollars. 1 2 3 Record the collection of the receivable