On December 15, 2020, Lisbeth Inc. (a U.S.-based company) purchases merchandise inventory from a foreign supplier for 50,000 schillings. Lisbeth agrees to pay in 45 days, after it sells the merchandise. Lisbeth makes sales rather quickly and pays the entire obligation on January 25, 2021. Currency exchange rates for 1 schilling are as follows: Date December 15, 2020 December 31, 2020 January 25, 2021 January 31, 2021 U.S. Dollar per Schilling $ 0.28 0.30 0.33 0.34 Prepare all journal entries for Lisbeth Company in connection with this purchase and payment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record inventory purchase from foreign supplier. Note: Enter debits before credits. Date General Journal Debit Credit 12/15/2020 Record entry Clear entry View general journal On December 15, 2020, Lisbeth Inc. (a U.S.-based company) purchases merchandise inventory from a foreign supplier for 50,000 schillings. Lisbeth agrees to pay in 45 days, after it sells the merchandise. Lisbeth makes sales rather quickly and pays the entire obligation on January 25, 2021. Currency exchange rates for 1 schilling are as follows: Date December 15, 2020 December 31, 2020 January 25, 2021 January 31, 2021 U.S. Dollar per Schilling $ 0.28 0.30 0.33 0.34 Prepare all journal entries for Lisbeth Company in connection with this purchase and payment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry for changes in the exchange rate. Note: Enter debits before credits. Date General Journal Debit Credit 12/31/2020 Record entry Clear entry View general journal On December 15, 2020, Lisbeth Inc. (a U.S.-based company) purchases merchandise inventory from a foreign supplier for 50,000 schillings. Lisbeth agrees to pay in 45 days, after it sells the merchandise. Lisbeth makes sales rather quickly and pays the entire obligation on January 25, 2021. Currency exchange rates for 1 schilling are as follows: Date December 15, 2020 December 31, 2020 January 25, 2021 January 31, 2021 U.S. Dollar per Schilling $ 0.28 0.30 0.33 0.34 Prepare all journal entries for Lisbeth Company in connection with this purchase and payment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry for changes in the exchange rate. Note: Enter debits before credits. Date General Journal Debit Credit 01/25/2021 Record entry Clear entry View general journal On December 15, 2020, Lisbeth Inc. (a U.S.-based company) purchases merchandise inventory from a foreign supplier for 50,000 schillings. Lisbeth agrees to pay in 45 days, after it sells the merchandise. Lisbeth makes sales rather quickly and pays the entire obligation on January 25, 2021. Currency exchange rates for 1 Schilling are as follows: Date December 15, 2020 December 31, 2020 January 25, 2021 January 31, 2021 U.S. Dollar per Schilling 0.28 0.30 0.33 0.34 Prepare all journal entries for Lisbeth Company in connection with this purchase and payment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the payment made for inventory purchase. Note: Enter debits before credits. Date General Journal Debit Credit 01/25/2021 Record entry Clear entry View general journal