The Kruk Company regularly sells merchandise to German customers.On December 1,2015,Kruk sold merchandise to a German customer at a price of three million Euros;the customer is required to pay for the goods on February 1,2016.The spot rate was $.875 per euro on December 1,2015,it was $.8875 per euro on December 31,2015,and it was $.865 per euro on February 1,2016.
Required:
Prepare the journal entries that might be necessary on December 1,2015,December 31,2015,and on February 1,2016.

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The Answer of The Kruk Company regularly sells merchandise to German customers.On December 1,2015,Kruk sold merchandise to a German customer at a price of three million Euros;the customer is required to pay for the goods on February 1,2016.The spot rate was $.875 per euro on December 1,2015,it was $.8875 per euro on December 31,2015,and it was $.865 per euro on February 1,2016.
Required:
Prepare the journal entries that might be necessary on December 1,2015,December 31,2015,and on February 1,2016.

The Kruk Company Regularly Sells Merchandise to German Customers