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Business
Accounting
Sales revenue 56,880 2 July 22 Dollars receivable from exchange broker ($) Foreign currency payable to exchange broker (£) 58,680 58,680 3 September 20 Accounts receivable (£) Foreign currency transaction gain 1,152 1,152 4 September 20 Foreign currency payable to exchange broker (£) 648 X Foreign currency transaction gain 648 X 5 September 20 Foreign currency units (£) Accounts receivable (£) 58,032 58,032 6 September 20 Foreign currency payable to exchange broker (£) Foreign currency units (£) 58,032 58,032 7 September 20 Cash 58,680x Dollars receivable from exchange broker ($) 58,680 x

Sales revenue 56,880 2 July 22 Dollars receivable from exchange broker ($) Foreign currency payable to exchange broker (£) 58,680 58,680 3 September 20 Accounts receivable (£) Foreign currency transaction gain 1,152 1,152 4 September 20 Foreign currency payable to exchange broker (£) 648 X Foreign currency transaction gain 648 X 5 September 20 Foreign currency units (£) Accounts receivable (£) 58,032 58,032 6 September 20 Foreign currency payable to exchange broker (£) Foreign currency units (£) 58,032 58,032 7 September 20 Cash 58,680x Dollars receivable from exchange broker ($) 58,680 x

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sales revenue 56,880 2 July 22 Dollars receivable from exchange broker ($) Foreign currency payable to exchange broker (£) 58,680 58,680 3 September 20 Accounts receivable (£) Foreign currency transaction gain 1,152 1,152 4 September 20 Foreign currency payable to exchange broker (£) 648 X Foreign currency transaction gain 648 X 5 September 20 Foreign currency units (£) Accounts receivable (£) 58,032 58,032 6 September 20 Foreign currency payable to exchange broker (£) Foreign currency units (£) 58,032 58,032 7 September 20 Cash 58,680x Dollars receivable from exchange broker ($) 58,680 x
Transcribed Image Text:Sales revenue 56,880 2 July 22 Dollars receivable from exchange broker ($) Foreign currency payable to exchange broker (£) 58,680 58,680 3 September 20 Accounts receivable (£) Foreign currency transaction gain 1,152 1,152 4 September 20 Foreign currency payable to exchange broker (£) 648 X Foreign currency transaction gain 648 X 5 September 20 Foreign currency units (£) Accounts receivable (£) 58,032 58,032 6 September 20 Foreign currency payable to exchange broker (£) Foreign currency units (£) 58,032 58,032 7 September 20 Cash 58,680x Dollars receivable from exchange broker ($) 58,680 x
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