u on# On November 1, 2017. Zamfir Company, a U.S. corporation, purchased minerals from a Russian company for 2,000,000 rubles, payable in 3 months. Relevant exchange rates between U.S. & Russian currencies are given Spot Rate $0.348 $0.359 $0.344 Forward Rate (to February 1, 2018) November 1, 2017 December 31, 2017 April 1,2018 $0.348 $0.352 The company's incremental borrowing rate provides a discount rate of 0.975 for three months. Required: Prepare iournal entries for Dell in connection with the purchase and payment: Record journal entry to show purchase of inventory ei Debit Credit December 31, 2017: Assuming Zamfir does not attempt to hedge this transaction, what is the journal entry to record the gain or loss that would be shown on the company's December 31, 2017 financial statements? r tia Debit Credit