Assume that your company sells products to a customer located in France on October 15. The invoice specifies that payment is to be made on January 15 in Euros () in the amount of 215,000. Your company operates on a calendar year basis

Prepare the journal entries to record the sale (ignore cost of goods sold) , the required adjusting entry at December 31, and the receipt of payment January 15

Journal entries for an account receivable denominated in Euros ($US weakens) Assume that your company sells products to a customer located in France on October 15. The invoice specifies that payment is to be made on January 15 in Euros (C) in the amount of 215,000. Your company operates on a calendar year basis. Assume the following exchange rates: $1.05 1 December 31 $1.15: 1 $1.201 October 15 January 15 Prepare the journal entries to record the sale (ignore cost of goods sold), the required adjusting entry at December 31, and the receipt of payment January 15. General Journal Description Debit Date Oct 15 Credit 0 0 0 Dec 31 0 0 0 0 0 Jan 15 0 Accounts receivable 0 0 0 2 0 0 Please answer all parts of the