On Jan. 1, 2020, a US manufacturing company purchased inventory from a German company for 1000, 000 on credit and the payment for inventory will be on March. 31, 2021.

Direct Exchange rates as follow:

Jan.1 $1.30 vs 1

Dec.31 $1.25 vs 1

March.31 $1.32 vs 1

Required: pass journal entries on the three dates on the US manufacturing company records.

Please note, none of the questions i placed here for Accounting were answered correctly - NONE -. Do not answer with a copy/paste from another place, if you do not know the answer, just skip it.