Behd Company, a U.S.firm, sold some of its inventory to Edinburgo Company, a company based in Scotland, on November 27, 2011, when the local currency unit (the pound Sterling, "GBP")was trading at $1.64 : 1 GBP.The sales agreement called for Edinburgo to pay 140,000 GBP on January 26, 2012.Additional exchange rates are shown below:
Required:
Show all related journal entries for Behd Company.

Question

Behd Company, a U.S.firm, sold some of its inventory to Edinburgo Company, a company based in Scotland, on November 27, 2011, when the local currency unit (the pound Sterling, "GBP")was trading at $1.64 : 1 GBP.The sales agreement called for Edinburgo to pay 140,000 GBP on January 26, 2012.Additional exchange rates are shown below:
  Required:
Show all related journal entries for Behd Company.

Quizplus · Accepted Answer

The Answer of Behd Company, a U.S.firm, sold some of its inventory to Edinburgo Company, a company based in Scotland, on November 27, 2011, when the local currency unit (the pound Sterling, "GBP")was trading at $1.64 : 1 GBP.The sales agreement called for Edinburgo to pay 140,000 GBP on January 26, 2012.Additional exchange rates are shown below:
  Required:
Show all related journal entries for Behd Company.