Question: please view the transaction list to resolve tbis problem thank you! Exercise 11-6 (Static) Transactions with Foreign Companies LO 11-2 Harris Incorporated had the following
Exercise 11-6 (Static) Transactions with Foreign Companies LO 11-2 Harris Incorporated had the following tronsoctions. 1. On May 1, Harris purchased parts from o loponese company for a US, dollor-equlvalent volue of $8,400 to be paid on June 20 The exchange rates were May1June201yen=se.90701yen=9.0275 2. On July 1, Harris sold products to a Brazilian customer for a US. dollar equivalent of $10,000, to be recelved on August 10 Brazirs local currency unit is the real The exchange rates were July1August10real=0.221real=50.20 Required: 0. Assume that the two transactions are denominated in US dollars. Prepare the enthes required for the dates of the transactions and their settlement in US dollars. b. Assume that the two tronsoctions are denominated in the applicable LCUS of the foreign entives. Prepore the entries required fot the dates of the transBctions and their settement in the LCUs of the Jopanese company (yen) ond the Brazilian customer (real) Complete this question by entering your answers in the tabs below. Assume that the two transactions are denominated in U.S. dollars. Prepare the entries required for the dates of the transactions and their setternent in U.S. dollars. 1 Record the foreign purchase deneminated in U.S, Dellars. 2. Record the settiement of the payables. a. Record the foreign sale dominated in U.S. dellar5. 4 Record the collection of the receivable
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