Wolfe Computer is a US company that manufactures portable personal computers. Many of the components for the computer are purchased abroad, and the finished product is sold in foreign countries as well as in the United States. Among the recent transactions of Wolfe are the following: Oct. 28 Purchased from Mitsutonka a Japanese company. 20.000 disk drives. The purchase price was V180,000,000. payable in 30 days. Current exchange rate 0.0105 per yen (Wolfe uses the integrumethod debit the locale R M account) Nos. 9 Sold 700 personal computers to the Bank of England for 604,500 due in 10 days. The cost of the computers, to be debited to the cost of Goods Sold account, was SS18.000 Current exchange rate, 51.65 per British pound (Use one compound journal entry to record the sale and the cost of goods sold a recording the cost of poods sold. credit Inventory of Finished Goods.) Nov. 27 Issued a check to Inland Bank for $1.836,000 in full payment of account payable to Mitsutonka Dec. 2 Purchased 10,000 gray scale monitors from German Optical for 1.200.000, payable in 60 days. Current exchange rate, S0.7030 per curo (Debit Inventory of Raw Materials) Dec. 9 Collected dollar-equivalent of 604 500 from the Bank of England Current exchange rate, 51.63 per British pound Dec. 11 Sold 10.000 personal computers to Computique, a Swiss retail chain, for SFr23.750.000, due in 30 days. Current exchange rate, 50.6000 per Swiss franc The cost of the computers, to be debuted to Cost of Goods Sold and credited to Inventory of Finished Goods, is 57.400.000 Instructions a. Prepare in general journal form the entries necessary to record the preceding transactions Prepare the adjusting entries needed at December 31 for the 1,200.000 account pevale to German Optical and the SF723,750,000 account receivable from Computige Year and exchange rates 50.7000 per euro and $0.5980 per Swiss franc (Use a separate journal entry to adjust each account balance.) Compute to the rest dollar the unit sales price of computers in US dollars in either the November 9 or December Il sales transaction (The sales price is the same in each transaction) d. Compute the exchange rate for the yen, stated in US dollars, on November 27 Explain how Wolfe Computer could have hedged its position to reduce the risk of loss from exchange rate fluctuations on (1) its foreign payables and (2) its foreign receivables Wolfe Computer is a US company that manufactures portable personal computers. Many of the components for the computer are purchased abroad, and the finished product is sold in foreign countries as well as in the United States. Among the recent transactions of Wolfe are the following: Oct. 28 Purchased from Mitsutonka a Japanese company. 20.000 disk drives. The purchase price was V180,000,000. payable in 30 days. Current exchange rate 0.0105 per yen (Wolfe uses the integrumethod debit the locale R M account) Nos. 9 Sold 700 personal computers to the Bank of England for 604,500 due in 10 days. The cost of the computers, to be debited to the cost of Goods Sold account, was SS18.000 Current exchange rate, 51.65 per British pound (Use one compound journal entry to record the sale and the cost of goods sold a recording the cost of poods sold. credit Inventory of Finished Goods.) Nov. 27 Issued a check to Inland Bank for $1.836,000 in full payment of account payable to Mitsutonka Dec. 2 Purchased 10,000 gray scale monitors from German Optical for 1.200.000, payable in 60 days. Current exchange rate, S0.7030 per curo (Debit Inventory of Raw Materials) Dec. 9 Collected dollar-equivalent of 604 500 from the Bank of England Current exchange rate, 51.63 per British pound Dec. 11 Sold 10.000 personal computers to Computique, a Swiss retail chain, for SFr23.750.000, due in 30 days. Current exchange rate, 50.6000 per Swiss franc The cost of the computers, to be debuted to Cost of Goods Sold and credited to Inventory of Finished Goods, is 57.400.000 Instructions a. Prepare in general journal form the entries necessary to record the preceding transactions Prepare the adjusting entries needed at December 31 for the 1,200.000 account pevale to German Optical and the SF723,750,000 account receivable from Computige Year and exchange rates 50.7000 per euro and $0.5980 per Swiss franc (Use a separate journal entry to adjust each account balance.) Compute to the rest dollar the unit sales price of computers in US dollars in either the November 9 or December Il sales transaction (The sales price is the same in each transaction) d. Compute the exchange rate for the yen, stated in US dollars, on November 27 Explain how Wolfe Computer could have hedged its position to reduce the risk of loss from exchange rate fluctuations on (1) its foreign payables and (2) its foreign receivables