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Make journal on the books of zara corp to record transaction

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Reference no: EM132706255

December 16, 2019, Zara Corp. (USA company), purchased Inventroy from Wings Company for € 30,000, which will be paid on January 15, 2020. The exchange rate (exchange rate) of Euros against US Dollars on December 16, 2019 was $ 1.20, December 31, 2019 was $ 1.25 and on the 15th January 2020 is $ 1.24.

Requested:

Problem 1: Prepare journal on the books of Zara Corp. to record transactions on December 16, 2019, the adjusting journal for December 31, 2019, and the payment journal for January 15, 2020.

Reference no: EM132706255

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