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This Question: 42 pts 17 of 23 (0 complete) This Test: 300 pts possible Assume thatTwitterby Stores completed the following foreign-currency transactions: (Click the icon
This Question: 42 pts 17 of 23 (0 complete) This Test: 300 pts possible Assume thatTwitterby Stores completed the following foreign-currency transactions: (Click the icon to view the transactions.) Requirements 1. Journalize these transactions for Twitterby. Focus on the gains and losses caused by changes in foreign-currency rates. Round your answers to the nearest whole dollar 2. On April 10, immediately after the purchase, and on May 23, immediately after the sale, which currencies did Twitterby want to strengthen? Which currencies did in fact strengthen? Explain your reasoning. Requirement 1. Joumalize these transactions for Twitterby. Focus on the gains and losses caused by changes in foreign-currency rates. Round your answers to the nearest whole dollar. (Record debits first, then credits. Excludes explanations from any journal entries.) Apr 9: Purchased various inventory items on account from Mooshu, a Japanese company. The price was 800,000 yen, and the exchange rate of the yen was $0.0090 Journal Entry More Info Date Debit Credit Apr Purchased various inventory items on account from Mooshu, a Japanese company. The price was 800,000 yen, and the exchange rate of the yen was S0.0090. Paid Mooshu when the exchange rate was $0.0078. Sold merchandise on account to Le Fleur, a French company, at a price of 90,000 euros. The exchange rate was $1.16. Ignore cost of goods sold. Collected from Le Fleur when the exchange rate was $1.06. Apr 9 May 18 22 May 18: Paid Mcoshu when the exchange rate was $0.0078. Journal Entry 28 Dato Accounts Debit Credit May 18 Print Done Choose from any list or enter any number in the input fields and then continue to the next
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