Question: On November 1 5 th , 2 0 2 4 , Seattle Inc, a U . S . company purchases goods from Tokyo Inc., a

On November 15th,2024, Seattle Inc, a U.S. company purchases goods from Tokyo Inc., a Japanese vendor, for 5,000,000. The payment is due on February 15th,2025. The exchange rates are as follows:
USD per 1 JPY Spot rate
15-Nov, 241= $0.01000
31-Dec ,241= $0.00800
15-Feb, 251= $0.00909
Record all journal entries, including for interim reporting periods assuming that Seattle Inc. is a calendar year entity.

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