PROBLEM 3: marks. The merchandise was shipped and invoiced to Lemu an FOB shiping point term, from a foreign entity for 2000 Requirement: Provide the journal entries in 20x1 and 20x2. 1. On November 15, 20x1, Lemon Co. ordered merchandise, on on December 10, 20x1. Lemon paid the invoice on January January 1 20x2. The spot rates are as follows: P22.4955 Nov. 15, 20x1 December 10, 20x1 December 31, 20x1 P22.4875 P22.4675 January 10, 20x2 P22.4475 (Adapted)
PROBLEM 3: marks. The merchandise was shipped and invoiced to Lemu an FOB shiping point term, from a foreign entity for 2000 Requirement: Provide the journal entries in 20x1 and 20x2. 1. On November 15, 20x1, Lemon Co. ordered merchandise, on on December 10, 20x1. Lemon paid the invoice on January January 1 20x2. The spot rates are as follows: P22.4955 Nov. 15, 20x1 December 10, 20x1 December 31, 20x1 P22.4875 P22.4675 January 10, 20x2 P22.4475 (Adapted)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 2Q
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