On December 15, 2023, Lisbeth, Inc. (a U.S.-based company), purchases merchandise inventory from a foreign supplier for 50,000 schillings. Lisbeth agrees to pay in 45 days, after it sells the merchandise. Lisbeth makes sales rather quickly and pays the entire obligation on January 25, 2024. Currency exchange rates for 1 schilling are as follows:

Prepare all journal entries for Lisbeth Company in connection with this purchase and payment.

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Date December 15, 2023 December 31, 2023 January 25, 2024 January 31, 2024 U.S. Dollar per Schilling $0.28 0.30 0.33 0.34