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Journalize the following foreign - currency transactions for QueenswayQueensway Import Inc.: November 1 7 , 2 0 2 3 2 0 2 3 Purchased goods
Journalize the following foreigncurrency transactions for QueenswayQueensway Import Inc.: November Purchased goods on account from a Japanese company. The price was comma yen and the exchange rate of the yen was $ $ Assume QueenswayQueensway uses the perpetual method of inventory so purchases are reported directly in the Inventory account. December Paid the Japanese supplier when the exchange rate was $ $ December Sold merchandise on account to a French company at a price of euro comma The exchange rate for euros was $ $ignore the inventory and cost of goods sold here December Adjusted for the decrease in the value of the euro, which had an exchange rate of $ $ QueenswayQueensway Import Inc.s year end is December January Collected from the French company. The exchange rate was $ $
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