The following transactions occurred in ABC company during the last quarter of 2020. ABC is a Kuwaiti company that located in Kuwait and has KD as functional and reporting currency On Oct 1, the company purchased equipment from Germany for 1,000,000 Euro On Nov 15, the company sold inventory to a customer in France for 750,000 Euro On Dec 15, the company paid 400.000 Euro to equipment dealer. The exchange rates during this period were as follow: KD Euro Date 1/10/2020 11 2.8 15/11/2020 1 3.00 1 3.10 15/12/2020 31/12/2020 3.25 Required: Journalize the required entries for the above transactions Show the effect on the financial statement in 31/12/2020 A BIR T: The following transactions occurred in ABC company during the last quarter of 2020. ABC is a Kuwaiti company that located in Kuwait and has KD as functional and reporting currency On Oct 1, the company purchased equipment from Germany for 1,000,000 Euro On Nov 15, the company sold inventory to a customer in France for 750,000 Euro On Dec 15, the company paid 400.000 Euro to equipment dealer. The exchange rates during this period were as follow: KD Euro Date 1/10/2020 11 2.8 15/11/2020 1 3.00 1 3.10 15/12/2020 31/12/2020 3.25 Required: Journalize the required entries for the above transactions Show the effect on the financial statement in 31/12/2020 A BIR T