Warren Co purchased raw materials from a supplier in USA for $45,000 US on Aug. 23, 2021 with a credit preiod of 120 days. Warren co reports its financals monthly on the last business day. The invoice was paid on the due date. The Fx rates recorded were as follows: 31-Jul US $1 -1.264 CDN 31-Aug US $1 1.224 CDN 30-Sep US $1 = 1.257 CDN 31-Oct US $1 1.245 CDN 30-Nov US $1 = 1.221 CDN Plase record necessary entries and post the entries into the account of Accounts Payable.

Warren Co purchased raw materials from a supplier in USA for $45,000 US on Aug. 23, 2021 with a credit preiod of 120 days. Warren co reports its financals monthly on the last business day. The invoice was paid on the due date. The Fx rates recorded were as follows: 31-Jul US $1 -1.264 CDN 31-Aug US $1 1.224 CDN 30-Sep US $1 = 1.257 CDN 31-Oct US $1 1.245 CDN 30-Nov US $1 = 1.221 CDN Plase record necessary entries and post the entries into the account of Accounts Payable.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...

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