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On March 1, 2011 a US company made a credit sale requiring payment in 30-days from a Malaysian company, Hamac Sdn. Bhd., in 20,000 Malaysian

On March 1, 2011 a US company made a credit sale requiring payment in 30-days from a Malaysian company, Hamac Sdn. Bhd., in 20,000 Malaysian ringgits. Assuming the sxchange rate between Malaysian ringgits and US dollars is $0.6811 on March 1 and $0.6985 on March 31, prepare the journal entries to record the sale on March 1 and the cash reciept on March 31

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