PLEASE DO PART B! On September 30, 2015, Ericson...
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Accounting
PLEASE DO PART B!
On September 30, 2015, Ericson Company negotiated a two-year, 1,000,000 dudek loan from a foreign bank at an interest rate of 2 percent per year. It makes interest payments annually on September 30 and will repay the principal on September 30, 2017. Ericson prepares U.S.-dollar financial statements and has a December 31 year-end September 30, 2015 December 31, 2015 September 30, 2016 December 31, 2016 September 30, 20170.150 $0.100 0.105 0.120 0.125 a. Prepare all journal entries related to this foreign currency borrowing assuming the above exchange rates for 1 dudek. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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