(Learning Objective 4: Managing and accounting for foreign currency transactions)

Assume that Computer City Stores completed the following foreign currency transactions:

■ writing assignment

❙ Requirements 1. Journalize these transactions for Computer City. Focus on the gains and losses caused by changes in foreign currency rates. (Round your answers to the nearest whole dollar.)

2. On September 10, immediately after the purchase, and on October 23, immediately after the sale, which currencies did Computer City want to strengthen? Which currencies did in fact strengthen? Explain your reasoning