Old Colonial Corp. (a U.S. company) made a sale to a foreign customer
Question # 00003631
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Updated on: 11/16/2013 09:25 PM Due on: 11/27/2013
Old Colonial Corp. (a U.S. company) made a sale to a foreign customer on September 15,2011 for 100,000 stickles. Payment was received on October 15,2011.The following exchange rates applied:
September 15,2011 1stickle =.48 dollars
September 30,2011 1stickle =.50 dollars
October 15,2011 1stickle =.44 dollars
Required prepare all journal entries for Old Colonial Corp in connection with this sale assuming that the company closes its books on September 30 to prepare interim financial statements.
September 15,2011 1stickle =.48 dollars
September 30,2011 1stickle =.50 dollars
October 15,2011 1stickle =.44 dollars
Required prepare all journal entries for Old Colonial Corp in connection with this sale assuming that the company closes its books on September 30 to prepare interim financial statements.
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Rating:
/5
Solution: Old Colonial Corp. (a U.S. company) made a sale to a foreign customer