Soul Ltd is an Australian company that makes and sells small electronic goods and its financial year ends on 30 June. On 1 February 2018, a customer from the United States ordered some goods from Soul Ltd at an invoice cost of US$400,000 on terms FOB destination. On 30 April 2018, the goods were delivered to the customer. The agreed payment arrangements are that 30% of the total amount owing would be paid on delivery, 20% three months after delivery, and the remaining 50% four months after delivery. The end of the reporting period for Soul Ltd is 30 June. The following exchange rates are applicable.

1 February 2018	A$1 = US$0.77
30 April 2018	A$1 = US$0.75
30 June 2018	A$1 = US$0.70
31 July 2018	A$1 = US$0.74
31 August 2018	A$1 = US$0.78

Required:

In accordance with AASB 121, prepare the relevant journal entries of Soul Ltd to account for the above transactions.

Question 3	Max. marks allocated
Journal entries	6