On May 5, 20X5, Sugluk Corp. purchased inventory from a Japanese supplier and gave the supplier a
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Required
Prepare general journal entries to record the purchase, the hedge, and final settlement of both the note and the hedge, assuming each of the following spot rates at the settlement date:
a) $ 0.0095
b) $ 0.0100
c) $ 0.0093
d) $ 0.0102
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Entry to record the purchase Purchases or inventory 380000 Accounts payable 40000000 00095 380000 En...View the full answer
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My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
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Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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