QUESTION 4 Ella Ltd is a South African company with a 30 June year- end. During the 20.19 financial year, the company entered into the following foreign currency transaction: On 1 August 20.19 Ella Ltd purchased inventory FOB shipping point from an American supplier at a cost of $6 000, payable on 31 October 20.19 (the credit terms are considered to be normal) Spot exchange rates 1 August 20.19 31 October 20.19 $1 = R 16,40 16,05 REQUIRED: Prepare the journal entries to account for purchase of inventory in the financial records of Ella Ltd. Make use of the template for possible account names that is given in the instruction document. Clearly indicate in your answer if the item is a statement of financial position (SFP) or a statement of profit or loss and other comprehensive income (P/L) general ledger account. Date Account name Debit and Credit Rand Dr Cr Recording of inventory purchased 4 points Save