Part A Samabula Furniture is a Fijian owned company with a functional currency of FJD$. On 1 June 2020, Samabula Furniture entered into various transactions in NZ$ when the exchange rate was FJD$1.00 = NZ$1.40. Any assets arising from the NZ$ transactions are still on hand and any liabilities remain unsettled. On 30 June 2020, the exchange rate is FJD$1.00 = NZ$1.20. Translate each of following items for initial and subsequent measurement as appropriate and provide the relevant journal entries: (a) Sales revenue and accounts receivable of NZ$15 000 [2 marks] (6) Inventories and accounts payable of NZ$20 000 [2 marks] (c) Plant NZ$30 000 [1 mark] (d) Interest-free borrowings of NZ$100 000. [2 marks] () A 6-month forward contract to buy NZD$3,000,000 entered into on 1 April 2020 at the forward rate of FJD$1.00 = NZD$0.72. On 30 June 2020, the forward rate for a 3-month forward contract to buy NZD$3,000,000 is FJD$1.00 = NZD$0.70. [5 marks] Part B Salote is a new business entrepreneur. Due to shortage of supplies locally she had to transact with an international company. Whilst talking to her financial adviser, she became confused with the different exchange rates. Assist Salote by briefly defining the concepts below: Spot exchange rate [1 mark) ivate W (ii) Closing exchange rate (iii) Forward exchange rate [1 mark] (1 marklo Settings