question archive Prepare all journal entries for Peerless Corporation in connection with this export sale, assuming that the company closes its books on September 30 to prepare interim financial statements
Prepare all journal entries for Peerless Corporation in connection with this export sale, assuming that the company closes its books on September 30 to prepare interim financial statements
Subject:AccountingPrice: Bought3
Prepare all journal entries for Peerless Corporation in connection with this export sale, assuming that the company closes its books on September 30 to prepare interim financial statements. (If no entry is required for a transaction/event, select " No journal entry required" in the first account field.) Answer is complete but not entirely correct. No Date General Journal Debit Credit 1 09/15 63,720 X Accounts receivable (crowns) Sales ? 63,720 X 2 09/30 5,400 X Accounts receivable (crowns) Foreign exchange gain or loss 5,400 X 3 10/15 2,160 X Foreign exchange gain or loss Accounts receivable (crowns) 2,160 X 4 10/15 ? 66,960 X Cash Accounts receivable (crowns) ? 66,960 x
