Gaw Produce Co $\times$ ) Was Due on January 18, 2012

Essay

Gaw Produce Co. purchased inventory from a Japanese company on December 18, 2011. Payment of 4,000,000 yen ( $\times$ ) was due on January 18, 2012. Exchange rates between the dollar and the yen were as follows:
Required:
Prepare all journal entries for Gaw Produce Co. in connection with the purchase and payment.