Instruction to Question 2: Foreign Exchange ( TOTAL 20 MARKS) D Question 2 20 pts On 1 March 2022. Ellie Lid. acquires a machine on credit terms from a French supplier for a price of EUR $300 000. The functional currency of Ellie Lid. is Australian dollars. The machine arrived in Australia on 31 March 2022. Ellie Lid. paid the suppliers on 14 April 2022. On 30 June 2022. Ellie's a) Prepare the relevant journal entries (if any) on 1 March. 31 March, 14 April and 30 June 2022 to Led managers decided to keep the carrying value of the machine below its fair value of EUR record these foreign exchange transactions. (16 marks) 190,000. For this question, please ignore any depreciation and tax effects. Portfolio The following foreign exchange information has been made available to you, with an Australian dollar ($1] having the following rates on relevant dates: ecture Recordings b) Evaluate the implication of recognising unrealised revenues or losses with foreign exchange and why that could be misleading to investors and other users. (4 marks) EUR cading List 1-March-2022 0.6851 thee 365 Edit View Insert Format Tools Table 31-March-2022 0.6372 rtual Room 120t. Paragraph BI U AL T' 14-Apr-2022 0.6963 tople 30-June-2022 0.7130 diosity Online dy Help rary Resources Note: You must show your workings. Required Proctono is sharing your screen Stop shared