this is the exchange rate

Question 3 (12 Marks) Shimail is a Parent Company working in Pakistan, with the presentation currency of the group is the PKR. It generally purchases machinery items from a German Company, Bakh Company. Bakh Company's functional currency is Euro and it sells in Euros. On 30th November 2019, Shimail Company purchased an item of plant for 10,000 Euros. Payment terms were decided to be 2/10, n/40. At the year end the payable amount had not yet been settled. No exchange gain or loss in respect of this item is reflected in Shimail's income statement above. On January 10, 2020 the payment was made. Average Exchange rates are as follows: On 30th November 2019: 1: Rs 169.92 On 31" December 2019: 1: Rs 172.67 On 10th January 2020 1: Rs. Required: For each of these three transactions listed below (1-3): 1) Initial recognition of the foreign currency transaction 2) Subsequent Measurement-Unsettled Transaction 3) Subsequent Measurement-Settled Transaction Do the following tasks: a) Conversion of the foreign currency amount to the functional (presentation) currency b) Make a Journal entry appropriate for the transaction c) Explanation of the situation Average Exchange rates are as follows: On 30th November 2019: 1: Rs 169.92 On 31st December 2019: 1: Rs 172.67 On 10th January 2020 1: Rs. Question 3 (12 Marks) Shimail is a Parent Company working in Pakistan, with the presentation currency of the group is the PKR. It generally purchases machinery items from a German Company, Bakh Company. Bakh Company's functional currency is Euro and it sells in Euros. On 30th November 2019, Shimail Company purchased an item of plant for 10,000 Euros. Payment terms were decided to be 2/10, n/40. At the year end the payable amount had not yet been settled. No exchange gain or loss in respect of this item is reflected in Shimail's income statement above. On January 10, 2020 the payment was made. Average Exchange rates are as follows: On 30th November 2019: 1: Rs 169.92 On 31" December 2019: 1: Rs 172.67 On 10th January 2020 1: Rs. Required: For each of these three transactions listed below (1-3): 1) Initial recognition of the foreign currency transaction 2) Subsequent Measurement-Unsettled Transaction 3) Subsequent Measurement-Settled Transaction Do the following tasks: a) Conversion of the foreign currency amount to the functional (presentation) currency b) Make a Journal entry appropriate for the transaction c) Explanation of the situation Average Exchange rates are as follows: On 30th November 2019: 1: Rs 169.92 On 31st December 2019: 1: Rs 172.67 On 10th January 2020 1: Rs