Part B: Journalizing Foreign Exchange transactions in the General Journal Striking Furs imports furs from Canada. In the space provided below, prepare journal entries to record the following events. The US Dollar $ is their Reporting Currency Dec. 11, 2016: Purchased furs from Capable Trappers, Ltd., a Canadian corporation, at a price of 25,000 Canadian dollars, due in 60 days, The current exchange rate is $0.85 U.S dollars per Canadian dollar. Use "Inventory-Furs" as the Account for the debit. Dec. 31, 2016: Striking made a year-end adjusting entry relating to the Account Payable to Capable Trappers. The exchange rate at year-end is $0.89 U.S. dollars per Canadian dollar Feb. 9, 2017: Issued a check for $21,750 (U.S. dollars) to National Bank in full settlement of the liability to Capable Trappers, Ltd. The exchange rate at this date is $0.87 U.S dollars per Canadian dollar. 2016 General Journal Debit Credit Dec 11 Dec 31 2017 Feb 9