DE16-19 Page 636 includes a sequence of Shipp Belting journal entries for transactions denominated in Mexican pesos.

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DE16-19 Page 636 includes a sequence of Shipp Belting journal entries for transactions denominated in Mexican pesos. Suppose the foreign-exchange rate for a peso is $0.118 on July 2. Record Shipp Belting's collection of cash on July 2. On page 636. Shipp Belting buys inventory for which Shipp must pay Swiss francs. Suppose a Swiss franc costs $0.82 on August 24. Record Shipp Belting's payment of cash on August 24.

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