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Tex Hardware sells many of its products overseas. The following are some selected transactions. Tex sold electronic subassemblies to a firm in Denmark for 130,000

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Tex Hardware sells many of its products overseas. The following are some selected transactions. Tex sold electronic subassemblies to a firm in Denmark for 130,000 Danish kroner (Dkr) on June 6, when the exchange rate was Dkr 1 = $0.1735. Collection was made on July 3 when the rate was Dkr 1-$0.1738. On July 22, Tex sold copper fittings to a company in London for 39,000 with payment due on September 20. Also, on July 22, Tex entered into a 60-day forward contract to sell 39,000 at a forward rate of 1$1.83. The spot rates follow Tex sold storage devices to a Canadian firm for C$72,000 Canadian dolars) on October 11, with payment due on November 10. On October 11, Tex entered into a 30-day forward contract to sell Canadian dollars at a forward rate of C$1 $0.73. The forward contract not designated as a hedge. The spot rates were as follows Required: Prepare journal entries to record Tex's foreign sales of its products, use of forward contracts, and settlements of the receivables. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ournal entry worksheet 2. ournal entry worksheet

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