Part I Maple Company had the following export and import transactions during 20x5: 1. On March 1, Maple sold goods to a Canadian company for C$44,000, receivable on May 30. The spot rates for Canadian dollars were C$1 $0.65 on March 1 and C$1 $0.68 on May 30. 2. On July 1, Maple signed a contract to purchase equipment from a Japanese company for 410,000. The equipment was manufactured in Japan during August and was delivered to Maple on August 30 with payment due in 60 days on October 29. The spot rates for yen were 1 $0.102 on July 1, 1 $0.104 on August 30, and 1 $0.106 on October 29. The 60-day forward exchange rate on August 30, 20X5, was 1 = $0.1055. 3. On November 16, Maple purchased inventory from a London company for 24,000, payable on January 15, 20X6. The spot rates for pounds were 1 = $1.65 on November 16, 1 = $1.63 on December 31, and 1 $1.64 on January 15, 20x6. The forward rate on December 31, 20X5, for a January 15, 20X6, exchange was 1 = $1.645. Required: Prepare journal entries to record Maple's import and export transactions during 20X5 and 20X6. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) a-1 Journal entry worksheet 4 5 2 33 Record the receipt of foreign currency. Note: Enter debits before credits Date General Journal Debit Credit Oct. 29, 20X5 :X: This is a numeric cell, so please enter numbers only. LO Journal entry worksheet 5 1 2 3 4 Record the payment of accounts payable. Note: Enter debits before credits Date General Journal Debit Credit Oct. 29, 20X5 Journal entry worksheet 3 1 2 4 Record the purchase of inventory. Note: Enter debits before credits. General Journal Date Debit Credit Nov. 16, 20X5 LO Journal entry worksheet 2 1 3 4 5 Record the revaluation of the foreign currency Note: Enter debits before credits. Debit Credit Date General Journal Dec. 31, 20X5 Journal entry worksheet 1 2 3 4 5 Record the revaluation of the foreign currency. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 15, 20X6 Journal entry worksheet 1 2 3 4 Record the receipt of the foreign currency. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 15, 20X6 2 3 4 1 Record the payment of accounts payable Note: Enter debits before credits. General Journal Debit Credit Date Jan. 15, 20X6 LO