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need this question finished..not sure how to do it Problem 3 (20 Points) Company A is incorporated in the United States. Company B is incorporated
need this question finished..not sure how to do it
Problem 3 (20 Points) Company A is incorporated in the United States. Company B is incorporated in Japan. Company A reports financial information in dollars. Company A sells merchandise to Company B for 1,000,000 yen. The sale takes place on January 1, 2004. At that date the exchange rate is $.0091. Complete the journal entry to record this sale. (0,0091* Yen 1,00o, e Account Title Debit Credi Company B (Receivalole) / Bank Sales (Merchandise) 9100 9,100 On January 15, 2004, Company B pays for the merchandise. On this date the exchange rate is $.0093. Complete the journal entry to record the receipt of payment. Account Title Debit Credit Step by Step Solution
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