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Journal entries for an accounts payable denominated in Canadian Dollars ($US strengthens and weakens) Assume that your company purchases inventories from a Canadian supplier on

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Journal entries for an accounts payable denominated in Canadian Dollars (\$US strengthens and weakens) Assume that your company purchases inventories from a Canadian supplier on November 3 . The invoice specifies that payment is to be made on February 1 in Canadian dollars (\$CAD) in the amount of $92,000 (CAD). Your company operates on a calendar year basis. Assume the following exchange rates

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