Ross, Inc., a domestic wholesaler, sold merchandise to a British customer on May 12th with the sale being denominated in British Pounds (). Ross, Inc. prepares monthly financial statements in US dollars ($). The cost of the merchandise to Ross, Inc. was $100,000, the sale price was 150,000. and the payment was due and made on July 12th. Spot rates covering the period in question are as follows: May 1st May 12th May 31st 1 = 1 = 1 = $1.20 $1.25 $1.28 June 1st June 12th June 30th 1 = 1 = 1 = $1.27 $1.25 July 1st July 12th July 31st 1 = 1 = 1 $1.24 $1.26 $1.27 $1.23 Prepare the journal entries required on the books of Ross, Inc. to account for this transaction by a) selecting the proper date using the drop down menu, b) selecting the proper account for each debit/credit using the drop down menu, and c) entering the proper debit/credit amounts - all in the gray-shaded cells. When correct, the cells will change to a light green color. Date Account Debit Credit Ross, Inc., a domestic wholesaler, sold merchandise to a British customer on May 12th with the sale being denominated in British Pounds (). Ross, Inc. prepares monthly financial statements in US dollars ($). The cost of the merchandise to Ross, Inc. was $100,000, the sale price was 150,000. and the payment was due and made on July 12th. Spot rates covering the period in question are as follows: May 1st May 12th May 31st 1 = 1 = 1 = $1.20 $1.25 $1.28 June 1st June 12th June 30th 1 = 1 = 1 = $1.27 $1.25 July 1st July 12th July 31st 1 = 1 = 1 $1.24 $1.26 $1.27 $1.23 Prepare the journal entries required on the books of Ross, Inc. to account for this transaction by a) selecting the proper date using the drop down menu, b) selecting the proper account for each debit/credit using the drop down menu, and c) entering the proper debit/credit amounts - all in the gray-shaded cells. When correct, the cells will change to a light green color. Date Account Debit Credit