FOREIGN CURRENCY: Concepts and Common Transactions

PT. Bumi Pertiwi had some currency transactions during September 2019, as follows:
September 3, 2019 Purchased merchandise from Big Company of the United States
at invoice price of $20,000 when the spot rate for the U.S. dollar
was Rp9537. Payment is due on October 15, 2019.
September 6, 2019 Sold computer sets to Lau Corporation, a Hongkong Company
for 35,800 Hongkong dollars when the spot rate for Hongkong
dollars was Rp1230.37 The invoice is denominated in Hongkong
Dollars and is due on November 14, 2019.
September 14, 2019 Purchased equipment from Takuya Company of Japan at invoice
price of ¥100,000 when the spot rate for yen was Rp122.73. Half
of payment is due on November 20, 2019 and the remaining is
due on January 11, 2020.
September 20, 2019 Sold inventory to Chiang Corporation, a Singapore Company for
78,900 Singapore dollars when the spot rate for Singapore
dollars was Rp7751.55. The invoice is denominated in Singapore
dollars and is due on February 20, 2020.
September 25, 2019 Purchased machine from Michele Corporation of Norwegian at
invoice price of 150,780 Norwegian krone when the spot rate for
Norwegian krone was Rp1661.32. Half of payment is due on
March 5, 2020 and the remaining is due on May 3, 2020.

Exchange rates for U.S. dollar, Hongkong dollars, Japanese yen, Singapore dollars, and
Norwegian krone on selected dates are as follows:
USD HKD JPY SGD NOK
October 15, 2019 Rp9545 Rp1231.30 Rp121.59 Rp7802.03 Rp1665.50
November 14, 2019 Rp9590 Rp1237.38 Rp120.61 Rp7843.30 Rp1663.66
November 20, 2019 Rp9590 Rp1237.12 Rp118.02 Rp7835.61 Rp1668.96
December 31, 2019 Rp9622 Rp1241.23 Rp111.39 Rp7866.24 Rp1726.60
January 11, 2020 Rp9612 Rp1239.79 Rp108.10 Rp7849.09 Rp1737.31
February 20, 2020 Rp9655 Rp1245.02 Rp103.31 Rp7810.22 Rp1746.69
March 5, 2020 Rp9656 Rp1244.94 Rp103.38 Rp7755.82 Rp1688.41
May 3, 2020 Rp9691 Rp1248.84 Rp98.89 Rp7847.60 Rp1670.57

REQUIRED:
Prepare all journal entries (1) to record the foregoing transactions, (2) to adjust the accounts,
(3) to record payments or receipt.