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Peerless Corporation (a U.S. company) made a sale to a foreign customer on September 15, for 100,000 crowns. It received payment on October 15. The

Peerless Corporation (a U.S. company) made a sale to a foreign customer on September 15, for 100,000 crowns. It received payment on October 15. The following exchange rates for 1 crown apply:

September 15 $0.60

September 30 0.66

October 15 0.62

all journal entries for Peerless in connection with this sale, assuming that the company closes its books on September 30 to prepare interim financial statements.

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