The company Olsen AS has receivables and liabilities in foreign currency as of 31 December 2020. About these items you will be given the following:

exchange rate: exchange rate: exchange rate:

Establishment 31.12.2019 31.12.2020

Accounts receivable 7,000 USD 7 6 8

long-term.loan. EUR 1 000 000 8 9 7

Accounts receivable were established on 01.09.2019 in connection with the sale of goods to the USA. Was fulfilled 10.01. 2020 at a price of DKK 7 The long-term loan was taken out on 01.07. in 2017 and it will be redeemed in full on 30.06 in 2021., so that no installments are paid. The interest rate is 4% p.a. Interest paid annually and in arrears, and the interest of 4000 EUR for the period 01.07 2019 to 30.06.2020 was paid 29.06 2020. On 29.06 2020 the euro exchange rate was 8.2 EUR / NOK

c) Show how the bookkeeping of this information gives rise to in 2020. Use the following accounts:

1505 Accounts receivable in USD 1920 Bank 2230 Long-term debt in EUR 2965 Accrued interest 3100 Sales revenue 8060 Currency gain 8150 Interest expense 8160 Currency