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PT BUMI entered into an agreement with PT TANI on 7 September 2021. PT BUMI provides its service from 1 October-31 December 2021. The
PT BUMI entered into an agreement with PT TANI on 7 September 2021. PT BUMI provides its service from 1 October-31 December 2021. The agreement requires that PT TANI pays in advance of US$50,000 on 16 September 2021 for the service period of 1 October - 29 October 2021. The remaining balance will be paid upon service completion. The functional currency of PT TANI is Rupiah. Required: Prepare journal entries for PT TANI with regards to the above transactions during October 2021. Exchange rates are as follows: Date 7 September 2021 16 September 2021 1 October 2021 Spot exchange rate (US$1) Rp14,239 Rp14,252 Rp14,321 29 October 2021 Rp14,199 31 December 2021 Rp14,269
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
8th edition
1111534918, 978-1111534912
