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Please give the answers within 40 minutes, It's very urgent Task 7. Entries related to foreign currency (10 points) Please fill the boxes with the
Please give the answers within 40 minutes, It's very urgent
Task 7. Entries related to foreign currency (10 points) Please fill the boxes with the necessary entries. Use some or all of these accounts: . . . . . Revenues (sales) Rent income Prepaid income FX income Prepaid expense Renovation expenses Legal expenses Prepaid expenses FX expense Bank Trade receivable Provisions Trade payables Input VAT VAT . . . epte We sell a product for 5.000 USD. Currency rate: 1,30 USD/EUR. We send an invoice to our US customer. Adjustment December 31, 2021 (the invoice has not been paid yet) Currency spot rate: 1,20 USD / EUR. July 30, 2021 We sell a product for 7.000 USD. Currency rate: 1,10 USD/EUR. We send an invoice to our US customer. Adjustment: December 31, 2021 (the invoice has not been paid yet) Currency spot rate: 1,20 USD/EURStep by Step Solution
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