You are the finance director of Weeds for Us Ltd, an Australian company listed on the ASX. The company is an importer of pharmaceutical marijuana from overseas markets. The company's financial year ends on 30 June 2021. The company entered the following transactions during the year. (a) Weeds for Us Ltd purchased inventories from a Mexican supplier for Mex$300 000. The title to the goods passes to the company on delivery. The payment for the inventories is due on 31 July 2021. The following exchange rates are applicable. 22 Apr 2021 Date of order for inventories A$1 = 15.70 30 Apr 2021 Date of delivery for inventories A$1 = 16.00 30 Jun 2021 Financial Year end A$1 = 15.60 31 Jul 2021 Payment of Mex$3000,000 A$1 = 16.10 On the same date the order is placed, Weeds For Us enters a 3-month forward exchange contract to buy Mex$300,000 to hedge its liability to the supplier. On 31 July 2020, the supplier is paid and the forward contract is settled. The following forward exchange rates are applicable: 22 Apr 2021 A$1 = 15.80 30 Apr 2021 A$1 = 16.20 30 Jun 2021 A$1 = 15.70 31 Jul 2021 A$1 = 16.10 In accordance with AASB 121/IAS 21, prepare the entries of Weeds For Us Ltd to account for its foreign currency transactions. Assume a 0% discount rate for fair value calculations. You are the finance director of Weeds for Us Ltd, an Australian company listed on the ASX. The company is an importer of pharmaceutical marijuana from overseas markets. The company's financial year ends on 30 June 2021. The company entered the following transactions during the year. (a) Weeds for Us Ltd purchased inventories from a Mexican supplier for Mex$300 000. The title to the goods passes to the company on delivery. The payment for the inventories is due on 31 July 2021. The following exchange rates are applicable. 22 Apr 2021 Date of order for inventories A$1 = 15.70 30 Apr 2021 Date of delivery for inventories A$1 = 16.00 30 Jun 2021 Financial Year end A$1 = 15.60 31 Jul 2021 Payment of Mex$3000,000 A$1 = 16.10 On the same date the order is placed, Weeds For Us enters a 3-month forward exchange contract to buy Mex$300,000 to hedge its liability to the supplier. On 31 July 2020, the supplier is paid and the forward contract is settled. The following forward exchange rates are applicable: 22 Apr 2021 A$1 = 15.80 30 Apr 2021 A$1 = 16.20 30 Jun 2021 A$1 = 15.70 31 Jul 2021 A$1 = 16.10 In accordance with AASB 121/IAS 21, prepare the entries of Weeds For Us Ltd to account for its foreign currency transactions. Assume a 0% discount rate for fair value calculations