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Check my werk On April 1, 2020, Mendoza Company (a US-based company borrowed 460,000 euros for one year at an interest rate of 5 percent

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Check my werk On April 1, 2020, Mendoza Company (a US-based company borrowed 460,000 euros for one year at an interest rate of 5 percent per annum Mendoza must make its first interest payment on the loan on October 1, 2020, and will make a second interest payment on March 31, 2021, when the loan is repaid. Mendoza prepares US dollar financial statements and has a December 31 year-end. Prepare all journal entries related to this foreign currency borrowing assuming the following exchange rates for 1 euro 3.5. Dollar per Date Euro April 1, 2020 $ 1.14 October 1, 2020 1.24 December 31, 2020 1.28 March 31, 2021 1.32 View transaction list Journal entry worksheet 2 3 4 5

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