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a1 record of sales of goods a2 record the foreign currency transaction gain or loss. a3 record the receipt of foreign currency receivables a4 record the receipt of foreign currency

Part 1 Maple Company had the following export and import transactions during 20X5: 1. On March 1, Maple sold goods to a Canadian company for C$46,000, receivable on May 30. The spot rates for Canadian dollars were C$1 = $0.65 on March 1 and C$1=$0.68 on May 30. 2. On July 1, Maple signed a contract to purchase equipment from a Japanese company for 460,000. The equipment was manufactured in Japan during August and was delivered to Maple on August 30 with payment due in 60 days on October 29. The spot rates for yen were #1 = $0 102 on July 1, X1= $0.104 on August 30, and \1 = $0.106 on October 29. The 60-day forward exchange rate on August 30, 20X5. was \1 = $0.1055. 3. On November 16, Maple purchased inventory from a London company for 26,000, payable on January 15, 20X6. The spot rates for pounds were $1 = $1.65 on November 16, $1= $1.63 on December 31, and 1 = $164 on January 15, 20X6. The forward rate on December 31, 20X5, for a January 15, 20X6, exchange was 1 = $1645. -S Required: Prepare journal entries to record Maple's import and export transactions during 20X5 and 20X6. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) a-1 View transaction list Journal entry worksheet > 1 2 3 4 Record the sale of goods. Note: Enter debits before credits Debit Credit Date General Journal Mar. 1. 20X5 Prey 1 of 2 !! Next > Journal entry worksheet 1 2 4 Record the sale of goods. Note: Enter debits before credits. Date General Journal Debit Credit Mar. 1, 20X5 Record entry Clear entry View general journal View transaction list eBook Ask Journal entry worksheet w References Record the commitment to purchase the equipment. Note: Enter debits before credits. Date General Journal Debit Credit Jul 1, 20X5 Record entry Clear entry View general journal Journal entry worksheet 1 4 5 Record the purchase of the equipment. Note: Enter debits before credits. Date General Journal Debit Credit Aug 30, 20X5 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 Record the sale of goods. Note: Enter debits before credits Debit Credit Date General Journal Mar. 1. 20X5 Prey 1 of 2 !! Next > Journal entry worksheet 1 2 4 Record the sale of goods. Note: Enter debits before credits. Date General Journal Debit Credit Mar. 1, 20X5 Record entry Clear entry View general journal View transaction list eBook Ask Journal entry worksheet w References Record the commitment to purchase the equipment. Note: Enter debits before credits. Date General Journal Debit Credit Jul 1, 20X5 Record entry Clear entry View general journal Journal entry worksheet 1 4 5 Record the purchase of the equipment. Note: Enter debits before credits. Date General Journal Debit Credit Aug 30, 20X5 Record entry Clear entry View general journal Journal entry worksheet