Journalize the following foreign-currency transactions for Kingsway Import Inc.:

2014 Nov. 17 Purchased goods on account from a Japanese company. The price was 500,000 yen, and the exchange rate of the yen was $0.0117.

Dec. 16 Paid the Japanese supplier when the exchange rate was $0.0120.

19 Sold merchandise on account to a French company at a price of 80,000 euros. The exchange rate was $1.57.

31 Adjusted for the decrease in the value of the euro, which had an exchange rate of $1.54. Kingsway Import Inc.’s year end is December 31.

2015 Jan. 14 Collected from the French company. The exchange rate was $1.58.