Part B Short Answer Questions Generally, each Part B short answer question would take about 250 words to answer adequately. Topic 4 (Foreign currency transactions) Sydney Ltd is an Australian company for which the Australian dollar (A$) is the functional currency. The company has entered into a foreign currency transaction during the year ended 30 June 2021. purchasing goods on credit from a company in the United States, Eagle Ltd, on 14 June 2021. The contract, denominated in United States (USS) dollars, amounts to $175,000. Sydney Ltd pay for the goods on 5 July 2021. Relevant exchange rates are as follows: 14 June 2021 A$1.00 = US$0.7541 30 June 2021 A$100 = US$0 7803 5 July 2021 A$100 - US$0.7501 Required: Prepare the journal entries to record the foreign currency transactions entered into by Sydney Ltd with Eagle Ltd. Show all workings. (5 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (MC).