please advise

On December 31, 20x2, your company's Mexican subsidiary sold land at a selling price of 3,020,000 pesos. The land had been purchased for 2,160,000 pesos on January 1, 20x1, when the exchange rate was 10 pesos to 1 US. dollar. The exchange rate for1 US. dollar was 11 pesos on December 31, 20x1, and 12 pesos on December 31, 20x2. Assume that the subsidiary had no other assets and no liabilities during the two years that it owned the land. Required: a. Prepare all entries regarding the purchase and sale ofthe land that would be made on the books ofthe Mexican subsidiary whose recording currency is the Mexican peso. (If no entry is required for a transactionfeuent, select "Nojournol entry required" in the rst account field.) View transaction list Journal entry worksheet Record the purchase of land on 1(13'X1. Note: Enter debits before credits. Record entry Clear entry llll'iew general journal On December 31, 20x2, your company's Mexican subsidiary sold land at a selling price of 3,020,000 pesos. The land had been purchased for 2,160,000 pesos on January 1, 20x1, when the exchange rate was 10 pesos to1U.S. dollar. The exchange rate for 1 U.S. dollar was 11 pesos on December 31, 20x1, and 12 pesos on December 31, 20x2. Assume that the subsidiary had no other assets and no liabilities during the two years that it owned the land. Required: a. Prepare all entries regarding the purchase and sale ofthe land that would be made on the books ofthe Mexican subsidiary whose recording currency is the Mexican peso. (If no entry is required for o transactionfevent, select "Nojournol entry required" in the rst account eld.) View transaction list Journal entry worksheet Record the sale of land on 12/31/X2. Note: Enter debits before credits. _-- -- -- Record entry Clear entry View general journal