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Adjusting Entry at Balance Sheet Date McDonald's Corporation has the following receivables and payables denominated in foreign currencies, prior to closing on December 3 1

Adjusting Entry at Balance Sheet Date

McDonald's Corporation has the following receivables and payables denominated in foreign

currencies, prior to closing on December

31 .

The spot rates at December

31

are also given.

Required

Prepare the adjusting entry recorded by McDonald's Corporation at December

31 .

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