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Peerless Corporation (a U.S.-based company) made a sale to a foreign customer on September 15, for 101,000 crowns. It received payment on October 15. The

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Peerless Corporation (a U.S.-based company) made a sale to a foreign customer on September 15, for 101,000 crowns. It received payment on October 15. The following exchange rates for 1 crown apply: Date U.S. Dollar per Crown $0.61 0.65 0.61 September 15 September 30 October 15 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.) > Answer is complete but not entirely correct. No Date Debit Credit 1 09/15 General Journal Accounts receivable (crowns) Sales 63,720 X 63,720 X 2 09/30 5,400 X Accounts receivable (crowns) Foreign exchange gain or loss oo 5,400 x 3 10/15 2,160 X w Foreign exchange gain or loss Accounts receivable (crowns) 2,160 X 4 10/15 66,960 x Cash Accounts receivable (crowns) 66,960 x

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