Review the tutorial titled How to Submit the Intellipath Submission Assignment Please submit your work to this week's Intellipath Unit Submission lesson. Click the Upload button within the submission lesson to access the submissie Click the Select File button to upload your document, and then click OK to Assignment Details Globalization is a continuous process whereby managers become aware of the impact of international activities on their companies. This process takes placeringes that include exporting, licensing joint ventures, wholly owned subsidi global sourcing. Each stage has implications for the type of accounting information reported. Striking Furs imports furs from Canada. In the space provided below, prepare journal entries to record the following events. . Dec. 11, 2017: Purchased furs from Capable Trappers, Ltd., a Canadian corporation at a price of 25,000 Canadian dollars due in 60 days. The current exchange rate is $0.85 US dollars per Canadian dollar. (Striking uses the perpetua method, debit the Inventory account.) Dec 31, 2017: Striking made a year end adjusting entry relating to the account payable to Capable Trappers. The exchange rate at year end is 50.89 U.S. dollars per Canadian dollar. Feb. 9, 2018 issued a check for $1,750 (U.S. dollars) to National Bank in full settlement of the liability to Capable Trappers. The exchange rate at this date is 50.87 U.S. dollars per Canadian dollar 2017 General Joumal Dec 31 2018 Feb 9 2. Explain ways in which Striking Furs can protect itself against the losses that would arise from a sudden increase in the foreign exchange rate