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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

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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 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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