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Rochester, Inc. purchased cameras from a Japanese company at a price of 3.9 million yen. On the purchase date, the exchange rate was $0.0100 per
Rochester, Inc. purchased cameras from a Japanese company at a price of 3.9 million yen. On the purchase date, the exchange rate was $0.0100 per Japanese yen, but when Rochester, Inc., paid the liability, the exchange rate was $0.0103 per yen. When this foreign account payable was paid, Rochester, Inc., recorded a
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