Know Your Product Ltd is an Australian company with a functional currency = A$. The company has entered into a number of transactions denominated in US$ during the year ended 30 June 2017. The closing exchange rate is A$1.00 = US$0.77, determine the translated amount that will be included in financial statements for each of the following balances. 1. Land at cost US$400 000 acquired on 1 February 2017 when the exchange rate is A$1.00 = US$0.67. 2. Land revalued to US$600 000 on 30 June 2017 that had cost US$400 000 on 1 February 2017 when the exchange rate is A$1.00 = US$0.67. 3. Credit sale of US$80 000 on 12 March 2017 when the exchange rate is A$1.00 = US$0.69. Received cash from debtor of US$40 000 on 30 June 2017. 4. Credit purchase of inventory of US$250 000 on 15 June 2017 when the exchange rate is A$1.00 = US$0.62. The creditor remains unpaid at 30 June 2017. 5. A loan payable of US$800 000 arranged on 1 January 2017 when the exchange rate is A$1.00 = US$0.60. On 30 June 2017, the outstanding interest on the loan is US$20 000.