Merchant Company had the following foreign culrency transactions: 1. On November 1, 20X6. Merchant sold goods to a company located in Munich, Germany. The receivable was to be settled in European euros on February 1, 20X7, with the recelpt of 6180,000 by Merchant Company. 2. On November 1, 20x6, Merchant purchased machine paits from a company located in Berlin, Germany, Merchant is to pay 90,000 on February 1,207 The direct exchange rates are as follows: Required: Record the T-accounts for the following transactions Note: Record the transactions in the given order. 1. The November 1, 20x6, export transaction (sale) 2. The November 1, 20x6, import transaction (purchase) 3. The December 31. 20x6, year-end adjustment required of the foreign currency-denominated receivable of 6180,000 4. The December 31, 20x6, year-end adjustment required of the foreign currency-denominated payable of 90,000 6. The February 1, 20X7, adjusting entry to determine the US. dollar-equivalent value of the foreign currency payable on that date. 7. The February 1,20x7, settlement of the foreign currency receivable. 8. The February 1,207, settiement of the foreign currency payable Accounts Receivable (t) Merchant Company had the following foreign culrency transactions: 1. On November 1, 20X6. Merchant sold goods to a company located in Munich, Germany. The receivable was to be settled in European euros on February 1, 20X7, with the recelpt of 6180,000 by Merchant Company. 2. On November 1, 20x6, Merchant purchased machine paits from a company located in Berlin, Germany, Merchant is to pay 90,000 on February 1,207 The direct exchange rates are as follows: Required: Record the T-accounts for the following transactions Note: Record the transactions in the given order. 1. The November 1, 20x6, export transaction (sale) 2. The November 1, 20x6, import transaction (purchase) 3. The December 31. 20x6, year-end adjustment required of the foreign currency-denominated receivable of 6180,000 4. The December 31, 20x6, year-end adjustment required of the foreign currency-denominated payable of 90,000 6. The February 1, 20X7, adjusting entry to determine the US. dollar-equivalent value of the foreign currency payable on that date. 7. The February 1,20x7, settlement of the foreign currency receivable. 8. The February 1,207, settiement of the foreign currency payable Accounts Receivable (t)