Question
A U.S. Corp. purchased a computer from a French firm on July 1, 20X5, when a Euro cost $0.35. The U.S. firm will be required
A U.S. Corp. purchased a computer from a French firm on July 1, 20X5, when a Euro cost $0.35. The U.S. firm will be required to pay the French manufacturer 75,000 Euros on August 1, 20X5, when the Euro costs $0.43.
Required:
Make the necessary journal entries for the U.S. firm on July 1 and August 1.
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Statistics For Economics Accounting And Business Studies
Authors: Michael Barrow
7th Edition
1292118709, 978-1292118703
