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Old Colonial Corp. (a U.S. company) made a sale to a foreign customer on September 15, 20% for 100,000 stickles. Payment was received on October

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Old Colonial Corp. (a U.S. company) made a sale to a foreign customer on September 15, 20% for 100,000 stickles. Payment was received on October 15, 2001. The following exchange applied: Exchange Date Rate 15-Sep-20 $1 = $.48 30-Sep-20 $1 = $.50 15-Oct-20 $1 = $.44 Required: Prepare all journal entries for Old Colonial Corp. in connection with this sale assuming that the company closes its books on September 30 to prepare interi financial statements

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