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Peerless Corporation (a U.S.-based company) made a sale to a foreign customer on September 15, for 105,000 crowns. It received payment on October 15.
Peerless Corporation (a U.S.-based company) made a sale to a foreign customer on September 15, for 105,000 crowns. It received payment on October 15. The following exchange rates for 1 crown apply: U.S. Dollar Date September 15 September 30 October 15 per Crown $0.59 0.64 0.60 Prepare all journal entries for Peerless Corporation in connection with this export sale, assuming that the company closes its books on September 30 to prepare interim financial statements. (If no entry is required for a transaction/event, select " No journal entry required" in the first account field.) View transaction list 1 Record the entry for sales on credit. 2 Record the entry for changes in the exchange rate. 3 Record the entry for changes in the exchange rate. 4 Record the entry for receipt of payment. Note : = journal entry has been entered Record entry Credit Clear entry View general journal >
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