Selco, a U.S. Company, imports and exports tools, shop equipment, and industrial construction supplies. The company uses a periodic inventory system. During April the company entered into the following transactions. All rate quotations are direct exchange rates. April 3 Purchased power tools from a wholesaler in Japan, on account, at an invoice cost of 1,600,000 yen. On this date the exchange rate for the yen was $.0072. April 5 Sold hand tools on credit that were manufactured in the U.S. to a retail outlet located in West Germany. The invoice price was $2,800. The exchange rate for marks was $.5829. April 9 Sold electric drills on account to a retailer in New Zealand. The invoice price was 16,800 U.S. dollars and the exchange rate for the New Zealand dollar was $.576. 11 Purchased drill bits on account from a manufacturer located in Belgium. The billing was for 801,282 francs. The exchange rate for francs was $.0312. 16 Paid 1,000,000 yen on account to the wholesaler for purchases made on April 3. The exchange rate on this date was $.0067. 18 Settled the accounts payable with the Belgium manufacturer. The exchange rate was $.0368. 22 Received full payment from the New Zealand retailer. The exchange rate was $.568. 30 Completed payment on the April 3 purchase. The exchange rate was $.0078. Required: Prepare journal entries on the books of Selco to record the transactions listed above.