Question: If you know AASB then please help me with one! Thanks! Topic 5: Accounting for foreign currency transactions Soul Ltd is an Australian company that

 If you know AASB then please help me with one! Thanks!

If you know AASB then please help me with one! Thanks!

Topic 5: Accounting for foreign currency transactions Soul Ltd is an Australian company that makes and sells small electronic goods and its financial year ends on 30 June. On 1 February 2018, a customer from the United States ordered some goods from Soul Ltd at an invoice cost of US$400,000 on terms FOB destination. On 30 April 2018, the goods were delivered to the customer. The agreed payment arrangements are that 30% f the total amount owing would be paid on delivery, 20% three months after delivery, and the rema ning 50 our months after delivery. The end o there o ng nod or so Ltd S 3 June The following exchange rates are applicable. 1 US 30 Apri June 2 Required: In accordance with AASB 121, prepare the relevant journal entries of Soul Ltd to account for the above transactions

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