RELS 237 Chapter ereserve: Jesus Christ Movie star
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16 Sep 2017
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Lakeland Corporation (a U.S. company) made a sale to a foreigncustomer on September 15, 2013, for 100,000 foreign currency units(FCU). It received payment on October 15, 2013. The followingexchange rates for 1 FCU apply:
September 15, 2013 | $ | 0.40 | |
September 30, 2013 | 0.42 | ||
October 15, 2013 | 0.37 | ||
Prepare all journal entries for Lakeland in connection with thissale, assuming that the company closes its books on September 30 toprepare interim financial statements. |