NAME: Exercises - Clearly show your working 1. Journal entries for an accounts payable denominated in Canadian Dollars (SUS strengthens and weakens) Assume that your company purchases inventories from a Canadian supplier on November 3. The invoice specifies that payment is to be made on February 1 in Canadian dollars ($CAD) in the amount of $200,000 (CAD). Your company operates on a calendar year basis. Assume the following exchange rates: 17-72=05 November 3 December 31 February 1 $0.77:CAD$1 $0.72:CAD$1 $0.74:CAD$1 Prepare the journal entries to record the purchase (assume perpetual inventory accounting), the required adjusting entry at December 31, and the payment on February 1. General Journal