Question #13 On October 1,2015, Dell Corporation purchases inventory from a Mexican supplier for 220,000 Mexican Pesos. Dell will make payment in 240 days after it has sold the merchandise. Sales are made rather quickly and Dell pays this entire obligation on March 16. 2016. The following exchange rates for 1 peso apply: Date U.S. Dollar per Corona 0.047 0.057 March 16, 2016 Required: Prepare all journal entries for Dell in connection with the purchase and payment: October 1,2015: Purchase of inventory & recording of payable Debit Credit December 31,2015: Revaluation of payable based on current rate Debit Credit