Boat Belting sells goods for 900,000 Mexican pesos The foreign exchange rate for a peso is $0 094 on the date of sale Boat Belting then collects cash on April 24 when the exchange rate for a peso is $0 099 Record Boats cash collection Boat Belting buys inventory for 21,000 Swiss francs A Swiss fran...

Req 1 Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT Apr 24 Cash 900000 pesos ...

Boat Belting sells goods for 900,000 Mexican pesos. The foreign-exchange rate for a peso is $0.094 on

Question:

Boat Belting sells goods for 900,000 Mexican pesos. The foreign-exchange rate for a peso is $0.094 on the date of sale. Boat Belting then collects cash on April 24 when the for a peso is $0.099. Record Boat’s cash collection.
Boat Belting buys inventory for 21,000 Swiss francs. A Swiss franc costs $1.12 on the purchase date. Record Boat Belting’s payment of cash on October 25, when the for a Swiss Franc is $1.14.
In these two scenarios, which currencies strengthened? Which currencies weakened?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...