On March 31, 2022, Paradise Company borrowed 125,000,000 from Mitsubishi Bank Japan at an annual interest rate of 6%. Interest is payable annually on March 31, with the loan due on March 31, 2027. The following exchange rates occurred during the period:

March 31, 2022 December 31, 2022 Average from March 31 to Dec 31

C1= 84.5 C1= 88.5 C1= 86.0

On September 1, 2022, Paradise Company ordered equipment from Grove Corporation for 200,000. The equipment was delivered on October 31, 2022 with payment made on December 1, 2022. The following exchange rates occurred during the period:

September 1, 2022 October 31, 2022 December 1, 2022

Required:

1= C$1.497 1= C$1.439 1= C$1.504

Required:

1= C$1.497 1= C$1.439 1= C$1.504

Prepare the journal entries required to record the above transactions in the books of Paradise Corporation for its financial year ending December 31, 2022, including any year-end adjusting entries.