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Marko Company sold spray paint equipment to Spain for 4,400,000 pesetas (P) on October 1, with payment due in six months. The exchange rates were
Marko Company sold spray paint equipment to Spain for 4,400,000 pesetas (P) on October 1, with payment due in six months. The exchange rates were October 1, 20X6 December 31, 20X6 April 1, 20x7 1 peseta = $ 0.0048 1 peseta= 1 peseta = 0.0073 0.0075 Required a. Did the dollar strengthen or weaken relative to the peseta during the period from October 1 to December 31? Did it strengthen or weaken between January 1 and April 1 of the next year? October 1 to December 31 January 1 and April 1
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