On October 1, 2019, Vin Company (Vietnam) purchases inventory from a foreign supplier (Japan) for 40,000 JPY.

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On October 1, 2019, Vin Company (Vietnam) purchases inventory from a foreign supplier (Japan) for 40,000 JPY. Payment will be made in 30 days.

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Prepare all journal entries for Vin Company in connection with the purchase and payment. The following exchange rates for 1 JPY apply:

Exchange rate:

Date	VND
October 1,2019	210.54
October 30,2019

Related Book For answer-question

Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Posted Date: Jun 13, 2021 11:15 AM

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On October 1, 2019, Vin Company (Vietnam) purchases inventory from a foreign supplier (Japan) for 40,000 JPY.

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Governmental and Nonprofit Accounting

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