NP Co, whose year end is 31 December, Use Functional currency of dolar ($), buys some goods from AP of Germany on 31 August. The invoice value is 60,000 and is due for settlement in equal instalments on 30 November and 31 January. The exchange rate moved as follows. 1$=

31 August 1.20

30 November 1.40 31 December 1.80 31 January 1.60 Required State the accounting entries in the books of NP Co.