Megawatt Corporation purchased inventory merchandise on June 15, 2015, from a Scottish company for 100,000 British pounds. Megawatt remitted payment to the Scottish company on July 13, 2015. The British pound was worth $1.74 on June 15, 2015, and $1.78 on July 13, 2015.
Prepare entries for Megawatt Corporation needed on June 15, 2015, and July 13, 2015.

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The Answer of Megawatt Corporation purchased inventory merchandise on June 15, 2015, from a Scottish company for 100,000 British pounds. Megawatt remitted payment to the Scottish company on July 13, 2015. The British pound was worth $1.74 on June 15, 2015, and $1.78 on July 13, 2015.
Prepare entries for Megawatt Corporation needed on June 15, 2015, and July 13, 2015.

Megawatt Corporation Purchased Inventory Merchandise on June 15, 2015, from a Scottish