Journal entries for an account payable denominated in Mexican Pesos (SUS weakens) Assume that your company purchases inventories from a Mexican supplier on December 15. The invoice specifies that payment is to be made on March 15 in Mexican Pesos (Peso) in the amount of 110.000 Pesos Your company operates on a calendar year basis Assume the following exchange rates December 15 S1 Peso December 10.000:1 March 10.00 Prepare the journal entries to record the purchase assume perpetual inventory accounting the required adjusting entry at December 31, and the payment on March 15 General Journal Date Description Del Credit DOC 15 wory 0.000 Amounts payable D ILDO Dec 1 Foreign currency transaction loss 1000 D Accounts payable 1.000 Mar 15 Accounts payable 9000 Foreign currency transactions 500 ch 9500 c Journal entries for an account payable denominated in Mexican Pesos (SUS weakens) Assume that your company purchases inventories from a Mexican supplier on December 15. The invoice specifies that payment is to be made on March 15 in Mexican Pesos (Peso) in the amount of 110.000 Pesos Your company operates on a calendar year basis Assume the following exchange rates December 15 S1 Peso December 10.000:1 March 10.00 Prepare the journal entries to record the purchase assume perpetual inventory accounting the required adjusting entry at December 31, and the payment on March 15 General Journal Date Description Del Credit DOC 15 wory 0.000 Amounts payable D ILDO Dec 1 Foreign currency transaction loss 1000 D Accounts payable 1.000 Mar 15 Accounts payable 9000 Foreign currency transactions 500 ch 9500 c