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5) On September 1, juda calendar year U.S. manufacturer buys goods from Omani exporter for OMR 100,000 paying 8 percent down. The balance to be
5) On September 1, juda calendar year U.S. manufacturer buys goods from Omani exporter for OMR 100,000 paying 8 percent down. The balance to be paid in 2 months. Interest at 10 percent per annum is payable on the unpaid foreign currency balance. The dollar/ Omani Rial exchange rate is $0.12 = OMRI on September 1, $0.11 = OMR 1 on September 30, and $0.14 = OMR 1 on November la - Required: Prepare dated journal entries in U.S dollars to record the incurrence and settlement of this foreign currency transaction assumingiit employs single- transaction perspective and a two- transaction perspective
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