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2 Peerless Corporation (a U.S.-based company) made a sale to a foreign customer on September 15, for 104,000 crowns. It received payment on October 15.
2 Peerless Corporation (a U.S.-based company) made a sale to a foreign customer on September 15, for 104,000 crowns. It received payment on October 15. The following exchange rates for 1 crown apply: 2 points Date U.S. Dollar per Crown eBook September 15 September 30 October 15 $0.61 0.65 0.61 Print References Prepare all journal entries for Peerless Corporation in connection with this export sale, assuming that the company closes its books on September 30 to prepare interim financial statements. (If no entry is required for a transaction/event, select " No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Record the entry for sales on credit. Note: Enter debits before credits. 2 2 points View transaction list Journal entry worksheet 1 2 3 4 eBook Record the entry for sales on credit. Print References Note: Enter debits before credits. Date 09/15 General Journal Debit Credit Record entry Clear entry View general journal > 2 2 View transaction list Journal entry worksheet points < 1 2 3 4 Record the entry for changes in the exchange rate. eBook Print References Note: Enter debits before credits. Date 09/30 General Journal Debit Credit Record entry Clear entry View general journal 2 2 View transaction list Journal entry worksheet points < 1 2 3 4 eBook Print References Record the entry for changes in the exchange rate. Note: Enter debits before credits. Date 10/15 General Journal Debit Credit Record entry Clear entry View general journal > 2 View transaction list 2 points eBook Print References Journal entry worksheet < 1 2 3 4 Record the entry for receipt of payment. Note: Enter debits before credits. Date General Journal Debit Credit 10/15 Record entry Clear entry View general journal
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