Question: Please kindly help me to answer my assignment. Q 1) A manufacturer imports the raw material from a supplier in USA to produce his product.

Please kindly help me to answer my assignment.

Q 1) A manufacturer imports the raw material from a supplier in USA to produce his product. On 16th of June 2022, he imported $40,000 US worth of material with payment date Sept.16 The exchange rates as applicable were: 16-Jun USD 1 = 1.325 CAD 30-Jun USD 1 = 1.319 CAD 31-Jul USD 1 = 1.322 CAD 31-Aug USD 1 = 1.328 CAD 16-Sep USD 1 = 1.298 CAD The manufacturer prepares monthly financials. Based on the information provided above, please prepare necessary journal entries Also post the entries to the ledger of Accounts Payable

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