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Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020 : March1May1August1September1Boughtinventorycosting113,000pesosoncredit.Sold60percentoftheinventoryfor93,000pesosoncredit.Collected76,500pesosfromcustomers.Paid66,500pesostosuppliers. March 1 Bought inventory costing 113,000 pesos
Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020 : March1May1August1September1Boughtinventorycosting113,000pesosoncredit.Sold60percentoftheinventoryfor93,000pesosoncredit.Collected76,500pesosfromcustomers.Paid66,500pesostosuppliers. March 1 Bought inventory costing 113,000 pesos on credit. May 1 Sold 60 percent of the inventory for 93,000 pesos on credit. August 1 Collected 76,500 pesos from customers. September 1 Paid 66,500 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements
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