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A U.S. company executed a series of transactions in a foreign country during 2021. The appropriate exchange rates during 2021 were as follows: The following

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A U.S. company executed a series of transactions in a foreign country during 2021. The appropriate exchange rates during 2021 were as follows: The following transactions occurred during 2021: June 1 Bought inventory of 50,000 on credit. Aug. 1 Sold all inventory for 65,000 on credit. Required: Prepare all journal entries in U.S. dollars along with any December 31, 2021 adjusting entries. Show your work

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