Dacha Co made a sale to a foreign customer on September 15, Year1, for 100,000...
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Accounting
Dacha Co made a sale to a foreign customer on September 15, Year1, for 100,000 foreign currency units (FCU).
Payment was received on October 15, Year 1. The following exchange rates apply:
Date
US Dollar per FCU
September 15, Year 1
$0.4
September 30, Year 1
0.42
October 15, Year 1
0.37
Required:
Prepare all journal entries for Dacha Co in connection with this sale assuming that the company closes its books on September, 30 to prepare interim financial statements. Use Excel.
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