QUESTION 4 15 marks On 1 April 2021 Garnet Lid entered into an agreement with a Brazilian company to build an item of machinery that will cut a large amethyst crystal geode discovered recently by the company. Currently there is not a machine that will cut a geode of this size. The machinery is under the control of Garnet Lid throughout the building process. The machine is expected to cost $350,000. The new machine was completed and shipped FOB Brazil to Garnet Ltd on 31 August 2021. The machine was delivered to Garnet Ltd on 30 September 2021 and payment was made on this date. 1 April 2021 $USD 0.7593 = SAUD 1.00 30 June 2021 $USD 0.7513 = SAUD 1.00 31 August 2021 $USD 0.7356 = SAUD 1.00 30 September 2021 $USD 0.7464 = SAUD 1.00 a) Prepare the relevant journal entries (including narrations) to record the purchase of the machine and other relevant transactions associated with this purchase, in accordance with the applicable accounting standards. Ensure that you also include an explanation as to the treatment that you have adopted for each of the transactions and show any necessary workings. (8 marks)d) Why is it necessary to translate foreign currency transactions? Explain. Provide 2 examples of foreign currency transactions