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16 paints Zara Ltd exports goods to Aydin Inc. All sales contracts are denominated in US dollars Sales of U555 million are made on 1
16 paints Zara Ltd exports goods to Aydin Inc. All sales contracts are denominated in US dollars Sales of U555 million are made on 1 May 2020. FOB Sydney. The art due for payment by Aydin Incon 1 September 2020. Zara Ltd's reporting date is 30 June Additional information Date Spot rate 1 May 2020 A51.00 = US5084 30 June 2020 A$100 - US$0.95 1 September 2020 A5100 - US$0.86 Required: Prepare the journal entries for Zara Led to account for the above transaction Show all workings
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Accounting A Business Perspective
Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher
7th Edition
0075615851, 978-0075615859
