Potter Corp. (a U.S. company in Colorado) had the following series of transactions in a foreign country during 2021: The appropriate exchange rates during 2021 were as follows: Prepare all journal entries in U.S. dollars along with any December 31, 2021 adjusting entries. Potter uses a perpetual inventory system.

Question

Potter Corp. (a U.S. company in Colorado) had the following series of transactions in a foreign country during 2021:  The appropriate exchange rates during 2021 were as follows:  Prepare all journal entries in U.S. dollars along with any December 31, 2021 adjusting entries. Potter uses a perpetual inventory system.

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The Answer of Potter Corp. (a U.S. company in Colorado) had the following series of transactions in a foreign country during 2021:  The appropriate exchange rates during 2021 were as follows:  Prepare all journal entries in U.S. dollars along with any December 31, 2021 adjusting entries. Potter uses a perpetual inventory system.