The following information applies to the questions displayed below.]

Doering Company, a U.S. corporation with customers in several foreign countries, had the following selected transactions for 2015 and 2016.

2015

Apr.	8	Sold merchandise to Salinas & Sons of Mexico for $5,938 cash. The exchange rate for pesos is $0.1043 on this day.
July	21	Sold merchandise on credit to Sumito Corp. in Japan. The price of 1.5 million yen is to be paid 120 days from the date of sale. The exchange rate for yen is $0.0094 on this day.
Oct.	14	Sold merchandise for 19,000 pounds to Smithers Ltd. of Great Britain, payment in full to be received in 90 days. The exchange rate for pounds is $1.4566 on this day.
Nov.	18	Received Sumitos payment in yen for its July 21 purchase and immediately exchanged the yen for dollars. The exchange rate for yen is $0.0092 on this day.
Dec.	20	Sold merchandise for 17,000 ringgits to Hamid Albar of Malaysia, payment in full to be received in 30 days. On this day, the exchange rate for ringgits is $0.4501.
Dec.	31	Recorded adjusting entries to recognize exchange gains or losses on Doerings annual financial statements. Rates for exchanging foreign currencies on this day follow.

Pesos (Mexico)	$	0.1055
Yen (Japan)		0.0093
Pounds (Britain)		1.4620
Ringgits (Malaysia)		0.4456

2016

Jan.	12	Received full payment in pounds from Smithers for the October 14 sale and immediately exchanged the pounds for dollars. The exchange rate for pounds is $1.4699 on this day.
Jan.	19	Received Hamid Albars full payment in ringgits for the December 20 sale and immediately exchanged the ringgits for dollars. The exchange rate for ringgits is $0.4420 on this day.

7.

value: 1.00 points

Required information

Required:

1.

Prepare journal entries for the Doering transactions and adjusting entries. (Do not round your intermediate calculations. Enter your answers in whole dollars.) a. April 08,2015 - Sold merchandise to Salinas & Sons of Mexico for $5,938 cash. The exchange rate for pesos is $0.1043 on this day. b. Jul 21, 2015 - Sold merchandise on credit to Sumito Corp. in Japan. The price of 1.5 million yen is to be paid 120 days from the date of sale. The exchange rate for yen is $0.0094 on this day. c. Oct 14, 2015 - Sold merchandise for 19,000 pounds to Smithers Ltd. of Great Britain, payment in full to be received in 90 days. The exchange rate for pounds is $1.4566 on this day. d. Nov 18, 2015 - Received Sumitos payment in yen for its July 21 purchase and immediately exchanged the yen for dollars. The exchange rate for yen is $0.0092 on this day. e. Dec 20, 2015 - Sold merchandise for 17,000 ringgits to Hamid Albar of Malaysia, payment in full to be received in 30 days. On this day, the exchange rate for ringgits is $0.4501. f. Dec 31, 2015 - Prepare adjusting entry to recognize exchange gains or losses related to pounds (Britain), The exchange rate for pounds (Britain) is $1.4620 on December 31, 2015. g. Dec 31, 2015 - Prepare adjusting entry to recognize exchange gains or losses related to ringgits (Malaysia), The exchange rate for ringgits (Malaysia) is $0.4456 on December 31, 2015. h. Jan 12, 2016 - Received full payment in pounds from Smithers for the October 14 sale and immediately exchanged the pounds for dollars. The exchange rate for pounds is $1.4699 on this day. i. Jan 19, 2016 - Received Hamid Albars full payment in ringgits for the December 20 sale and immediately exchanged the ringgits for dollars. The exchange rate for ringgits is $0.4420 on this day.