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On June 1 Jenny Company bought goods from a foreign supplier at a price of 15,000 FCU (FCU is foreign currency units) Jenny will make
On June 1 Jenny Company bought goods from a foreign supplier at a price of 15,000 FCU (FCU is "foreign currency units") Jenny will make full payment in three months on September 1. Jenny closes its books and prepares interim financial statements on June 30 Prepare all journal entries, including adjusting entries, to record this purchase by Jenny Company. Date Spot rate June 1 June 30 Sept. 1 $0.40 $0.42 $0.37 Prepare all the journal entries needed by Jenny on June 1, June 30 and September 1
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