JOM date 2/5/2121, day- sunday, Time 9.00 AM to 11.00 AM (page 9 of 9 - Google Chrome moodle.suc.edu.om/mod/quiz/attempt.php?attempt-202278cmid=18458&page=-8 SUC Ccounting for Corporate Entities(1) Question 9 Mot yet nswered Hot graded Flag uestion During December of the current year, Exide company based in America, entered into the following transactions, Dec 10 Sold machinery to company located in Colombia for 6,500,000 pesos. On this date, the spot rate was 365 pesos per US Dollar Dec 12 Purchased Machine parts from a company domiciled in Japan. The contract was denominated in 600,000 Japan yen The direct exchange spot rate on this date was $.0392 Dec 15 Purchase other machine from same company The contract was denominated in 550,000 yen. The direct exchange spot rate on this date was 0 411 Required: A) Prepare journal entries to record the transactions above on the books of Exide company The company uses a periodic inventory system B) Prepare journal entries necessary to adjust the accounts as of December 31 Assume that on December 31 the direct exchange rates were as follows Colombia peso $00265