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On november 1 2013 the sherwood company sold inventory to a

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On November 1, 2013, the Sherwood Company sold inventory to a foreign customer for 200,000 local currency units (LCU). Payment is received on January 15, 2014. The exchange rates for 1 local currency unit are:

November 1st, 2013 at $1.10

November 31st, 2013 at $1:05

January 15th, 2014 at $0.97

Prepare of journal entries in connection with this sale of inventory.

Reference no: EM13574717

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