On August 7, 20Y1, Boise Co., a U.S. company, purchased merchandise from Red Deer Inc., located in
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On August 7, 20Y1, Boise Co., a U.S. company, purchased merchandise from Red Deer Inc., located in Edmonton, Canada, for $67,500 Canadian dollars (CAD). Red Deer Inc. requires payment in CAD at the time of purchase. On August 7, 20Y1, the exchange rate was $0.74 USD per CAD. Journalize the entry by Boise Co. to record the purchase.
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