Marko Company sold spray paint equipment to Spain for 4,000,000 pesetas (P) on October 1, with payment due in six months. The exchange rates were

October 1, 20X6	1 peseta	=	$	0.0048
December 31, 20X6	1 peseta	=		0.0075
April 1, 20X7	1 peseta	=		0.0073

Required: a. Did the dollar strengthen or weaken relative to the peseta during the period from October 1 to December 31? Did it strengthen or weaken between January 1 and April 1 of the next year?

b. Prepare all required journal entries for Marko as a result of the sale and settlement of the foreign transaction, assuming that its fiscal year ends on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)