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On December 15, 2020, Lisbeth Inc. (a U.S.based company) purchases merchandise inventory from a foreiqn supplier for 50.000 schillings. Lisbeth agrees to pay in 45

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On December 15, 2020, Lisbeth Inc. (a U.S.based company) purchases merchandise inventory from a foreiqn supplier for 50.000 schillings. Lisbeth agrees to pay in 45 days, after it sells the merchandise. Lisbeth makes sales rather quickly and poys the entire obligation on January 25,2021 . Currency exchange rates for 1 schiling are as foliows: Prepare alf joumal entries for Lisbeth. Company in connection with this purchase and payment, (if no entry is required for a trensoction/event, select "No journal entry required" in the first account fleld.l Journal entry worksheet Record itwentory purchase from foreign supplier 1 Record inventory purchase from foreign supplier. 2 Record the entry for changes in the exchange rate. 3 Record the entry for changes in the exchange rate. 4 Record the payment made for inventory purchase

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