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13 4 Points On September 1, 2014, Mohammed Company purchased merchandise from Ahmed Company of Japan for 20,000,000 yen payable on October 1, 2014. The
13 4 Points On September 1, 2014, Mohammed Company purchased merchandise from Ahmed Company of Japan for 20,000,000 yen payable on October 1, 2014. The spot rate for yen was $0.0079 on September 1 and the spot rate was $0.0077 on October 1. The purchase was paid on October 1, 2014. Required: 1. What journal entry did Mohammed record on September 1, 2014? 3. What journal entry did Mohammed record on October 1, 2014
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