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Marks company is a U.S company, sold inventory items to James Inc. a UK company for 200,000 pound on November 1, 2014, when the spot

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Marks company is a U.S company, sold inventory items to James Inc. a UK company for 200,000 pound on November 1, 2014, when the spot rate as 0.530 pounds. The invoice was paid by James on February 15, 2015, when the spot rate was 0.580 pound. On December 31, 2014 spot rate was .590 pounds Required Prepare journal entries of Marks that relate to the sale, valuation and the receipt of cash

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