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Provide the journal entries of barefoot co

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Reference no: EM132917775

Barefoot Co. purchased inventory from Nakasakasaka Co., a foreign supplier, on November 15, 20x1 for Y100,000, when the spot rate was PO.4295. On December 31, 20x1, the spot rate was P0.4245. Barefoot Co. settled the account on January 15, 20x2 when the spot rate was P 0.4345.

Requirement:

Problem 1: Provide the journal entries in 20x1 and 20x2.

Reference no: EM132917775

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