QUESTION 8 On 30 May 20.19, a South African company, Newyear Ltd sold goods for P13 000 (P = Pula) to a company in Botswana. The inventory was paid on 15 July 20.19. The year-end of the South African company is 30 June. Applicable exchange rates were as follows: 30 May 20.19 R1 = P1.30 30 June 20.19 R1 = P1.25 15 July 20.19 R1 = P1.00 REQUIRED: Prepare the journal entry to account for the translation (foreign exchange difference) in the financial records of Newyear Ltd on 30 June 20.19. 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. Account name Debit and Credit Rand Dr Cr Recording of translation on foreign exchange difference 3 points Save