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Alimo Trading co. in Canada Imports Almonds from a seller in California, USA to be sold in retail in Canada. The seller allows this buyer
Alimo Trading co. in Canada Imports Almonds from a seller in California, USA to be sold in retail in Canada. The seller allows this buyer to pay their invoices in 60 days. On 21st Aug. 201X, Alimo purchased \$210,000 US worth of almonds (due on Oct. 20th). Invoices and payments are recorded based on the applicable exchange rates. Alimo produces its financial statements every month, on the last business day The exchange rates are as under: Please provide the necessary journal entries on transaction date, on reporting dates and on settlement date
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