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Question 1 ( 12 marks) 1st April, 2020 an Australian Company purchased inventory from a foreign supplier costing $FC 50,000 on trade credit. Payment was

Question 1 ( 12 marks) 1st April, 2020 an Australian Company purchased inventory from a foreign supplier costing \$FC 50,000 on trade credit. Payment was due on 30th August, 2020. The company's financial year ends on 30th June. The following exchange rates applied: 1stApril30thJune30thAugust$A1.00=$FC0.8$A1.00=$FC0.6$A1.00=$FC0.9 1. Record all relevant journal entries

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