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Gaw Produce Company purchased inventory from a Japanese company on December 18, 2018. Payment of 4,000,000 yen) was due on January 18, 2019. Exchange rates
Gaw Produce Company purchased inventory from a Japanese company on December 18, 2018. Payment of 4,000,000 yen) was due on January 18, 2019. Exchange rates between the dollar and the yen were as follows: Exchange Rate Date December 18, 2018 1 = $.0080 December 31, 2018 1= $.0082 January 18, 2019 1 = $.0083 Required: Prepare all journal entries for Gaw Produce Co. in connection with the purchase and payment
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